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Crown Castle International says $465,000 9 3/8%, 10¾% and 7½% notes tendered
New York, Oct. 11 - Crown Castle International Corp. said it received a total $465,000 of tenders in its cash tender offers to buy up to $205.574 million of its 9 3/8% senior notes due 2011, up to $216.412 million of its 10¾% senior notes due 2011, up to $151.445 million of its 7½% senior notes due 2013 and up to $151.445 million of its 7½% series B senior notes due 2013.
By the expiration date of 5 p.m. ET on Oct. 8, holders had tendered $7,000 principal amount of the 9 3/8% notes, $415,000 principal amount of the 10¾% notes, $5,000 principal amount of the 7½% notes and $38,000 principal amount of the 7½% series B notes.
Crown Castle announced the tender on Sept. 10. The Houston-based communications antenna tower company said it was making the tender offers to satisfy the provisions of the indenture of each series of notes following the sale on Aug. 31 of its principal U.K. subsidiary, Crown Castle UK Holdings Ltd. The indentures require Crown Castle to apply the net proceeds of certain asset sales to reduce certain debt, to reinvest in its business or to offer to purchase the notes.
Crown Castle was offering to pay consideration for all tendered notes of 100% of the principal amount of the notes tendered (subject to pro-rationing), payable in cash, plus accrued and unpaid interest on the notes up to but not including the payment date, payable on the payment date.
The Bank of New York is the depositary for the tender offer (call Carolle Montreuil of the Reorganization Unit at 212 815-5920). MacKenzie Partners Inc. is the information agent (call Steven C. Balet at 800 322-2885 or collect at 212 929-5500).
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