HOUSTON-Crown Castle International Corp. has commenced cash tender offers for $205.6 million of its outstanding 9.375-percent senior notes due 2011, $216.4 million of its outstanding 10.75-percent senior notes due 2011, $151.4 million of its outstanding 7.5-percent senior notes due 2013, and $151.4 million of its outstanding 7.5-percent series B senior notes due 2013.
The tender offers are being made to satisfy provisions of each indenture related to last month’s sale of Crown’s U.K. subsidiary. The company plans to use proceeds to reduce debt, reinvest in its business or to purchase the notes.
The tender offers will expire Oct. 8.
