HOUSTON-Crown Castle International Corp. said it priced $1.9 billion of senior secured tower revenue notes, series 2005-1, which will be issued by its indirect subsidiaries in a private transaction.
Net proceeds from the offer will be used to fund the tender for several classes of senior notes, to fund the redemption of several classes of outstanding senior notes and senior discount notes and to repay its outstanding Crown Castle Atlantic credit facility.
The offering includes five classes of notes with a weighted average interest rate of about 4.89 percent. All of the notes have an expected life of five years, with final maturity in 2035, said the company.
Crown Castle said it expects the offering to close June 8.
