Tuesday, November 14, 2006

Crown Castle Raises $1.55 Billion in Senior Notes

Crown Castle International has priced $1.55 billion of Senior Secured Tower Revenue Notes, which will be issued by certain of its indirect subsidiaries in a private transaction as additional debt securities. The funds will be used (i) to repay the outstanding term loan under the Crown Castle Operating Company credit facility and (ii) pay the expected cash portion of the consideration of the planned acquisition of Global Signal Inc. or, in the event the acquisition of Global Signal Inc. is not consummated, for general corporate purposes.


  • Crown Castle owns, operates and manages over 11,500 and over 1,300 wireless communication sites in the US and Australia, respectively.

  • In October 2006, Crown Castle agreed to acquire Global Signal Inc., which owns, leases or manages approximately 11,000 towers and other wireless communications sites.