Crown Castle to repay term loan, fund Global Signal purchase with tower revenue notes

By Sara Rosenberg

New York, Nov. 9 - Crown Castle International Corp. plans to repay its existing term loan and fund the cash portion of the acquisition of Global Signal Inc. using proceeds from a $1.55 billion senior secured tower revenue notes offering, according to a company news release.

This means that the company will no longer pursue a $300 million add-on to its senior secured term loan via Morgan Stanley and JPMorgan as part of the Global Signal transaction.

Crown Castle is a Houston-based provider of broadcast, data and wireless communications infrastructure services.

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