Crown Castle accepts tenders for additional $839,000 of 9% notes

By Toni Weeks

San Diego, Jan. 10 - Crown Castle International Corp. announced that it accepted for purchase an additional $839,000 principal amount of 9% senior notes due 2015 after the Dec. 24 early tender deadline in the company's cash tender offer.

This brings the total amount of notes accepted for purchase to $516,297,000. Of the amount, $515,458,000 of the notes were tendered by the early deadline.

The tender offered expired at 11:59 p.m. ET on Jan. 9.

As previously reported, participating holders received a total consideration of $1,062.30 per $1,000 principal amount of notes, which included an early tender premium of $30.00, for notes tendered by the early deadline and $1,032.30 for notes tendered after that. The company will also pay accrued interest.

The company will redeem the roughly $313,331,000 of the notes on Jan. 23, according to a press release. As previously noted, the redemption price will be 105.625.

Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057, attn.: liability management), Barclays, J.P. Morgan Securities LLC and Bank of America Merrill Lynch were the dealer managers. D.F. King & Co., Inc. (800 967-4617, attn.: Elton Bagley) was the information agent.

Crown Castle is a Houston-based owner, operator and leaser of towers and other infrastructure for wireless communications.

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