HOUSTON, July 25, 2017 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) ("Crown Castle") announced today that it
has priced its previously announced public offering of 3.200% Senior Notes due 2024 and 3.650% Senior Notes due 2027, in aggregate
principal amounts of $750 million and $1.0 billion, respectively. The Senior Notes due 2024 will have an interest rate of
3.200% per annum and will be issued at a price equal to 99.721% of their face value to yield 3.244%. The Senior Notes due 2027 will
have an interest rate of 3.650% per annum and will be issued at a price equal to 99.930% of their face value to yield 3.658%.
The net proceeds from the offering are expected to be approximately $1.73 billion, after deducting the underwriting discount and
other offering expenses payable by Crown Castle. Crown Castle intends to use the net proceeds from this offering, together
with the net proceeds from its previously announced common stock offering and mandatory convertible preferred stock offering and
cash on hand, to finance its previously announced acquisition of LTS Group Holdings LLC (“Lightower Acquisition”) and to pay
related fees and expenses.
Morgan Stanley, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays, Mizuho Securities, and RBC Capital Markets are the
joint book-running managers of the offering.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange
Commission ("SEC"). The offering will be made only by means of a prospectus supplement and the accompanying base
prospectus, copies of which may be obtained by contacting any joint book-running manager using the information provided
below. An electronic copy of the prospectus supplement, together with the accompanying prospectus, is also available on the
SEC's website, www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
CAUTIONARY LANGUAGE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are based on Crown Castle management's current expectations. Such
statements include plans, projections and estimates regarding the proposed offering, including the net proceeds therefrom and the
use of such proceeds. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including
prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about
potential risk factors that could affect Crown Castle and its results is included in Crown Castle's filings with the SEC. The
term "including," and any variation thereof, means "including, without limitation."
ABOUT CROWN CASTLE
Crown Castle provides wireless carriers with the infrastructure they need to keep people connected and businesses running. With
approximately 40,000 towers and 60,000 route miles of fiber supporting small cells following the completion of the Lightower
Acquisition, Crown Castle is the nation's largest provider of shared wireless infrastructure with a significant presence in the top
100 U.S. markets.
JOINT BOOK-RUNNING MANAGERS CONTACT INFORMATION
Morgan Stanley & Co. LLC
180 Varick Street, 2nd Floor
New York, NY 10014
Attn: Prospectus Department
Toll-free: (866) 718-1649
Barclays Capital Inc.
1155 Long Island Avenue
Edgewood, NY 11717
Attn: Broadridge Financial Solutions
Toll-free: (888) 603-5847
E-mail: barclaysprospectus@broadridge.com
RBC Capital Markets, LLC
200 Vesey Street, 8th Floor
New York, NY 10281
Toll-free: (866) 375-6829
Merrill Lynch, Pierce, Fenner & Smith Incorporated
NC1-004-03-43
200 North College Street, 3rd floor
Charlotte, NC 28255-0001
Attn: Prospectus Department
Email: dg.prospectus_requests@baml.com
Mizuho Securities USA LLC
320 Park Avenue
New York, NY 10022
Attn: Debt Capital Markets
Toll-free: (866) 271-7403
Contacts:
Dan Schlanger, CFO
Son Nguyen, VP & Treasurer
Crown Castle International Corp.
713-570-3050
