Crown Castle plans to price fixed-rate senior notes in two parts

By Marisa Wong

Los Angeles, Dec. 4 – Crown Castle Inc. is offering fixed-rate senior notes in two parts, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature an optional make-whole call until some months prior to the maturity date, followed by an optional par call.

The notes will also be putable at 101 if specific kinds of changes of control occur.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc. are the joint bookrunners.

Bank of New York Mellon Trust Co., NA is the trustee.

Cravath, Swaine & Moore LLP will act as counsel for the issuer. Skadden, Arps, Slate, Meagher & Flom LLP will represent the underwriters.

The company intends to use the proceeds from the offering to repay a portion of the outstanding debt under its commercial paper program.

Crown Castle is a Houston-based company that owns, operates and leases shared communications infrastructure.

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