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Crown Castle International Prices Debt Offering
HOUSTON--June 22, 2000--Crown Castle International Corp. (Nasdaq:TWRS) announced
today that it priced $500 million of its 10.75% Senior Notes due 2011. This
represents an increase over the proposed $250 million Senior Notes offering
previously announced. The net proceeds of the offering will be used to repay
outstanding term loans incurred in connection with Crown Castle's acquisition of
towers from GTE Wireless and for other general corporate purposes. Closing of
the offering is scheduled for Monday, June 26, 2000.
A shelf registration statement relating to the notes was previously declared
effective by the Securities and Exchange Commission. The offering of the notes
may be made only by means of a prospectus supplement. A copy of the prospectus
supplement and related base prospectus may be obtained from Goldman Sachs or
Chase Securities Inc. Crown Castle International Corp. engineers, deploys, owns
and operates technologically advanced shared wireless infrastructure, including
extensive networks of towers and rooftops as well as analog and digital audio
and television broadcast transmission systems. The company offers near-universal
broadcast coverage in the United Kingdom and significant wireless communications
coverage to 68 of the top 100 United States markets, more than 95 percent of the
UK population and more than 92 percent of the Australian population. Pro forma
for all closed and previously announced transactions, Crown Castle International
owns, operates and manages over 11,000 wireless communication towers
internationally. For more information on Crown Castle International, visit:
www.crowncastle.com.
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CONTACT: Crown Castle International, Houston
W. Benjamin Moreland, 713/570-3000
CFO
or
Easterly Investor Relations, Houston
Ken Dennard, 713/529-6600
[email protected]
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