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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Thursday, April 25, 10:03 PM

Slide #324. Crown Castle International Corp. Preferred Stock Offering

Company: Crown Castle International Corp. (NYSE:CCI)
Date announced: 10/21/2013
Shares Offered: 36,000,000
Date of Pricing: 10/22/2013
Price Per Share: $74.00
Preferred Stock Offering Details: Crown Castle International Corp. (NYSE:CCI) ("Crown Castle") announced today that it is commencing concurrent offerings of 36,000,000 shares of its common stock and 7,500,000 shares of its Mandatory Convertible Preferred Stock, Series A, each in a separate registered public offering, subject to market and other conditions. These offerings are separate public offerings made by means of separate prospectus supplements and are not contingent on each other or upon the consummation of the AT&T Transaction as discussed below. Crown Castle expects to use the net proceeds from these offerings, together with cash on hand and additional debt financing, including additional borrowings under its revolving credit facility, to finance the consideration to be paid to AT&T, Inc. ("AT&T") and its affiliates in connection with the recently announced transaction between Crown Castle and AT&T (the "AT&T Transaction"). If for any reason the AT&T Transaction does not close or closes with respect to a reduced number of sites or for reduced consideration, then Crown Castle expects to use any remaining net proceeds from these offerings for general corporate purposes, which may include the repurchase or repayment of indebtedness. Crown Castle intends to grant the underwriters in each respective offering the option to purchase up to an additional 5,400,000 shares of its common stock and up to an additional 1,125,000 shares of its Mandatory Convertible Preferred Stock.

Crown Castle International owns, operates and leases shared communications infrastructure including towers and other structures, such as rooftops, and route miles of fiber primarily supporting small cell networks and fiber solutions. Co. is engaged in providing access, including space or capacity, to its shared communications infrastructure via contracts in various forms, including lease, license, sublease and service agreements. As part of Co.'s effort to provide communications infrastructure solutions, Co. also provides certain network services relating to its towers and small cells, consisting of its site development services relating to existing or new tenant equipment installations.

Preferred: CCI.PRA


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Name:  Crown Castle International Corp (New)
Website:  www.crowncastle.com
Sector:  REITs
Number of ETFs Holding CCI:  107 (see which ones)
Total Market Value Held by ETFs:  $7,565,095,971.25
Total Market Capitalization:  $51,165,000,000
% of Market Cap. Held by ETFs:  14.79%
 

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