HOUSTON-Crown Castle International Corp. said it will recognize the loss related to the extinguishment of the tendered 9 percent and 9.5 percent senior notes in the first quarter of this year, which will decrease its previously reported fourth-quarter and full year 2003 net loss.
Net loss for the fourth quarter 2003 will now be $100.3 million, and $22.5 million from the tendered senior notes will be recorded in this quarter. Crown’s stock was up nearly 5 percent to trade at $12.70 per share following the news.
