Crown Castle Announces Final Results of Cash Tender Offer for 9.00% Senior
Notes Due 2015
HOUSTON, Jan. 10, 2013 (GLOBE NEWSWIRE) -- Crown Castle International Corp.
("Crown Castle") (NYSE:CCI) announced today the final results of its
previously announced cash tender offer ("Tender Offer") for any and all of its
outstanding 9.00% Senior Notes due 2015 (CUSIP Number 228227 AZ 7) ("9%
Notes"). The Tender Offer expired at 11:59 p.m. (EST) on January 9, 2013
("Expiration Date"). The terms and conditions of the Tender Offer are
described in the Offer to Purchase and related Letter of Transmittal dated
December 11, 2012, distributed to holders of the 9% Notes.
In accordance with the terms of the Tender Offer, Crown Castle previously
accepted for purchase approximately $515,458,000 aggregate principal amount of
9% Notes, which were validly tendered on or prior to 11:59 p.m. (EST) on
December 24, 2012 ("Early Tender Date"). An additional $839,000 aggregate
principal amount of the 9% Notes have been validly tendered after the Early
Tender Date but on or prior to the Expiration Date and accepted for purchase
by Crown Castle in connection with the final settlement of the Tender Offer.
Holders who validly tendered their 9% Notes after the Early Tender Date but
on or prior to the Expiration Date and whose 9% Notes were accepted for
purchase will receive $1,032.30 per $1,000 principal amount of 9% Notes (plus
accrued and unpaid interest), subject to the terms and conditions set forth in
the Offer to Purchase and related Letter of Transmittal.
Acceptance of the 9% Notes for purchase was subject to the satisfaction or
waiver of certain conditions as set forth in the Offer to Purchase and the
related Letter of Transmittal.
On December 24, 2012, Crown Castle delivered to the holders of the 9% Notes a
notice of redemption. Accordingly, all of the remaining then outstanding 9%
Notes (approximately $313,331,000 aggregate principal amount) will be redeemed
on January 23, 2013.
Crown Castle retained Morgan Stanley & Co. LLC, Barclays Capital Inc., J.P.
Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated
to serve as the dealer managers for the Tender Offer.
This press release is for informational purposes only and is neither an offer
to purchase nor a solicitation of an offer to sell the 9% Notes. The Tender
Offer was made solely by means of the Offer to Purchase and related Letter of
Transmittal dated December 11, 2012, and Crown Castle's obligation to accept
any 9% Notes tendered and pay the consideration for them is set forth solely
therein.In those jurisdictions where the securities, blue sky or other laws
require any tender offer to be made by a licensed broker or dealer, the Tender
Offer is deemed to have been made on behalf of Crown Castle by the dealer
manager or one or more registered brokers or dealers licensed under the laws
of such jurisdiction.
About Crown Castle
Crown Castle owns, operates and leases towers and other infrastructure for
wireless communications. Crown Castle offers significant wireless
communications coverage to 92 of the top 100 US markets and to substantially
all of the Australian population. Crown Castle owns, operates and manages
approximately 30,000 and 1,700 wireless communication sites in the US and
Australia, respectively. For more information on Crown Castle, please visit
The Crown Castle International Corp. logo is available at
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based on Crown
Castle management's current expectations. 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. The term "including,"
and any variation thereof, means "including, without limitation."
CONTACT: Jay Brown, CFO
Fiona McKone, VP - Corporate Finance
Crown Castle International Corp.
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