Summary
Crown Castle Inc. (CCI) has announced the issuance and sale of $1.5 billion in aggregate principal amount of senior notes. This offering includes $750 million of 5.600% Senior Notes due 2029 and $750 million of 5.800% Senior Notes due 2034. The company intends to utilize the net proceeds from this registered public offering to repay a portion of its outstanding commercial paper indebtedness, along with associated fees and expenses.
Key Highlights
- 1Crown Castle Inc. is raising $1.5 billion through a public offering of senior notes.
- 2The offering consists of two tranches: $750 million of 5.600% Senior Notes due 2029 and $750 million of 5.800% Senior Notes due 2034.
- 3The net proceeds will be used to reduce existing commercial paper program debt.
- 4The offering is being conducted under the company's existing shelf registration statement on Form S-3.
- 5The company entered into an Underwriting Agreement with J.P. Morgan Securities LLC and other representatives of underwriters for this offering.
- 6The announcement was made on December 5, 2023, with the pricing of the offering occurring on December 4, 2023.
Frequently Asked Questions
Crown Castle Inc. is raising a total of $1.5 billion through the issuance of senior notes.
The net proceeds from the offering are intended to be used to repay a portion of the outstanding indebtedness under the Company's commercial paper program and to cover related fees and expenses.
The offering includes $750 million aggregate principal amount of 5.600% Senior Notes due 2029 and $750 million aggregate principal amount of 5.800% Senior Notes due 2034.
The offering is being conducted as a registered public offering pursuant to the Company's shelf registration statement on Form S-3 (Registration File No. 333-254500).