Crown Castle International (CCI) prices $2.5 billion senior notes offering.

Crown Castle International Corp. (CCI) announced today that it has priced a three-part offering of senior unsecured notes.  The offering includes:
      • $500 million 1.35% senior notes due 2025.  The notes were priced at 99.736% to yield 1.404% or +100 basis points to the treasury curve.
      • $1.1 billion 2.25% senior notes due 2031.  The notes were priced at 99.830% to yield 2.268% or +145 basis points to the benchmark treasury.
      • $900 million 3.25% senior notes due 2051.  The notes were priced at a spread of +165 basis points to treasuries.
Proceeds from the offering will be used to redeem the company's 2021 and 2022 bonds.

A member of the S&P 500, Crown Castle International Corp. (CCI) is one of the largest owners of wireless cell tower properties in the U.S. with a managed portfolio of 40,000 towers and 80,000 miles of fiber supporting 65,000 infill cell units. As of March 31, 2020, Crown Castle had an enterprise value of approximately $80 billion.


06/04/2020