Crown Castle InternationalCorp. priced its publicoffering of 3.400% senior notes due 2021 and 3.700% senior notes due2026, in aggregate principal amounts of $250 million and $750 million, respectively.
The company said the senior notes due 2021 will be issued ata price equal to 102.637% of their face value to yield 2.796%, while the seniornotes due 2026 will be issued at a price equal to 99.695% of their face value toyield 3.736%.
The offering is expected to fetch the company net proceeds ofapproximately $1.0 billion, after deducting underwriting discounts and commissionsand other offering expenses payable by Crown Castle.
As previously disclosed, the company plans to use net proceedsfrom the offering to repay in full the senior secured tower revenue notes, series2010-2, class C-2017, and series 2010-5, class C-2017, each issued by certain ofits subsidiaries. The proceeds will also be used to repay a portion of the outstandingborrowings under the senior unsecured revolving credit facility.
Barclays, Credit Agricole CIB, Morgan Stanley, SunTrust RobinsonHumphrey and TD Securities are the joint book-running managers of the offering.