US towerco Crown Castle has priced US$1bn of senior secured notes linked to tower revenues.
The notes will be issued by certain indirect subsidiaries in a private transaction as additional debt securities under an existing indenture dated 1 June 2005,…
US towerco Crown Castle has priced US$1bn of senior secured notes linked to tower revenues.
The notes will be issued by certain indirect subsidiaries in a private transaction as additional debt securities under an existing indenture dated 1 June 2005, the company said in a statement.
The offering consists of US$300m of 3.222% Class C-2022 notes with an expected maturity of seven years and final maturity date in May 2042, and US$700m of 3.663% Class C-2025 notes with an expected life of 10 years and a final maturity date in May 2045.
The notes priced at par, have a weighted average expected life of 9.1 years and a weighted average coupon of 3.531%.
Proceeds are to be used to retire its 2010-4 Notes, related fees and expenses and for general corporate purposes.
Yesterday, the Texas-based company announced that it had agreed to buy Quanta Fibre Networks (Sunesys) from power company Quanta Services for US$1bn.