CCI - Crown Castle Announces Pricing of Senior Notes Offering | Benzinga
HOUSTON, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Crown Castle Inc. (NYSE:CCI) ("Crown Castle") announced today that it has priced its previously announced public offering of 5.600% Senior Notes due 2029 and 5.800% Senior Notes due 2034 in aggregate principal amounts of $750 million and $750 million, respectively. The Senior Notes due 2029 will have an interest rate of 5.600% per annum and will be issued at a price equal to 99.661% of their face value to yield 5.673%. The Senior Notes due 2034 will have an interest rate of 5.800% per annum and will be issued at a price equal to 99.835% of their face value to yield 5.823%.
The net proceeds from the offering are expected to be approximately $1.480 billion, after deducting the underwriting discount and other estimated offering expenses payable by Crown Castle. Crown Castle intends to use the net proceeds from this offering to repay a portion of the outstanding indebtedness under its commercial paper program and pay related fees and expenses.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc. are the joint book-running managers of the offering.
The offering is being made pursuant to Crown Castle's existing effective ...