8-KAcquisitions & DispositionsExhibits & Filings

CROWN CASTLE INC. 8-K Report, Acquisition Completed (Dec 4, 2012)

Filed December 4, 2012For Securities:CCI

Summary

Crown Castle Inc. (CCI) announced the significant completion of an acquisition on November 30, 2012, for approximately $2.486 billion in cash. This transaction grants CCI the exclusive right to lease, operate, or acquire approximately 7,100 wireless communication sites from T-Mobile USA, Inc. This move substantially expands CCI's existing portfolio, enhancing its position as a major provider of wireless infrastructure. The acquisition was funded through a combination of cash on hand, proceeds from a recent senior notes offering, and borrowings under its revolving credit facility.

Key Highlights

  • 1Acquisition of approximately 7,100 wireless communication sites from T-Mobile USA, Inc. for $2.486 billion.
  • 2The acquired sites will be integrated into Crown Castle's existing infrastructure portfolio, expanding its network footprint.
  • 3Acquisition funded through a mix of cash, a $1.65 billion Senior Notes issuance, and credit facility borrowings.
  • 4Includes both leased/subleased (6,209 sites) and purchased (896 sites) assets from T-Mobile.
  • 5Post-closing adjustments to the number of sites are expected.
  • 6T-Mobile will lease collocation space at these sites for a ten-year period, with renewal options.
  • 7Financial statements and pro forma information related to the acquired assets will be filed in an amendment.

Frequently Asked Questions

The main event is the completion of Crown Castle Inc.'s acquisition of approximately 7,100 wireless communication sites from T-Mobile USA, Inc. for approximately $2.486 billion.

The acquisition was funded through a combination of cash on hand, proceeds from Crown Castle's private offering of $1.65 billion 5.25% Senior Notes due 2023, and borrowings under its revolving credit facility.

This acquisition significantly expands Crown Castle's infrastructure portfolio, strengthening its market position and providing a larger base for future growth in the wireless communications sector. It also secures a long-term customer in T-Mobile through collocation agreements.

Yes, T-Mobile will lease collocation space at these sites from Crown Castle for a period of ten years, with options to extend, indicating a continued strategic relationship.