Crown Castle Announces Proposed Offering of Senior Notes

BY GlobeNewswire | CORPORATE | 08/01/24 08:26 AM EDT

HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Crown Castle Inc. (CCI) (?Crown Castle?) announced today that it is commencing a public offering of one or more series of senior notes, subject to market and other conditions. The notes will be issued by Crown Castle (CCI). Crown Castle (CCI) intends to use the net proceeds from this offering to repay a portion of the outstanding indebtedness under its commercial paper program and pay related fees and expenses.

BofA Securities, Inc., BNP Paribas Securities Corp., MUFG Securities Americas Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC and Truist Securities, Inc. are the joint book-running managers of the offering.

The offering is being made pursuant to Crown Castle?s existing effective shelf registration statement filed with the?Securities and Exchange Commission?(?SEC?). The offering will be made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained by contacting any joint book-running manager using the information provided below. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is also available on the SEC?s website, www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

CAUTIONARY LANGUAGE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that are based on Crown Castle (CCI) management?s current expectations. Such statements include plans, projections and estimates regarding the proposed offering, including the use of proceeds therefrom. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Crown Castle (CCI) and its results is included in Crown Castle?s filings with the SEC. The term ?including,? and any variation thereof, means ?including, without limitation.?

ABOUT CROWN CASTLE (CCI)

Crown Castle (CCI) owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service ? bringing information, ideas and innovations to the people and businesses that need them.

JOINT BOOK-RUNNING MANAGERS CONTACT INFORMATION

BofA Securities, Inc.
NC1-022-02-25
201 North Tryon Street
Charlotte, North Carolina?28255
Attention: Prospectus Department
Email: dg.prospectus_requests@bofa.com

BNP Paribas Securities Corp.
787 Seventh Avenue, 3rd Floor
New York, New York 10019
Attention: Debt Syndicate
Phone: 1-800-854-5674

MUFG Securities Americas Inc.
1221 Avenue of the Americas, 6th Floor
New York, New York 10020
Attention: Capital Markets Group
Facsimile: 1-646-434-3455

PNC Capital Markets LLC
300 Fifth Avenue, 10th Floor
Pittsburgh, Pennsylvania 15222
Toll Free: 1-855-881-0697

RBC Capital Markets, LLC
Brookfield Place
200 Vesey Street, 8th Floor
New York, New York 10281
Attention: Syndicate Operations
Email: rbcnyfixedincomeprospectus@rbccm.com
Toll Free: 1-866-375-6829
Fax: 1-212-428-6308
Truist Securities, Inc.
50 Hudson Yards, 70th Floor
New York, New York 10001
Toll Free: 1-800-685-4786

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Source: Crown Castle Inc. (CCI)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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