US towerco Crown Castle has announced the pricing for its previously announced US$1.65bn debt offering. The senior notes, due 2023, will have an interest rate of 5.25% per annum and is being priced to investors at par. The net proceeds from the bonds…
US towerco Crown Castle has announced the pricing for its previously announced US$1.65bn debt offering.
The senior notes, due 2023, will have an interest rate of 5.25% per annum and is being priced to investors at par.
The net proceeds from the bonds issue will be approximately US$1.631bn, after estimated issuance discounts, commissions and offering expenses, according to a statement from the company.
As TelecomFinance previously reported, Crown Castle initiated the offering in order to part-finance its lease of 7,200 towers from T-Mobile USA for US$2.4bn.
It was announced yesterday that Deutsche Telekom-subsidiary T-Mobile USA will merge with MetroPCS, in a deal expected to create combined company revenues of US$24.8bn. T-Mobile and MetroPCS account for approximately 17% and 5% respectively of Crown Castle’s consolidated site rental revenues.
