Key Developments: Crown Castle International Corp (CCI.N)
73.38USD
23 May 2013
$-0.67 (-0.90%)
$74.05
$73.25
$73.63
$72.75
529,648
386,945
$81.16
$52.84
Latest Key Developments (Source: Significant Developments)
Crown Castle International Corp Issues Q2 2013 Guidance Above Analysts' Estimates; Raises FY 2013 Guidance
Crown Castle International Corp announced that for the second quarter of 2013, it expects adjusted EBITDA in then range of $426 million to $4431 million, funds from operations in the range of $255-$260 million, AFFO per share in the range of $0.94-$0.95 and net income in the range of $23-$63 million and net income per share diluted in the range of $0.08-$0.22. The Company raised fiscal 2013 guidance and expects adjusted EBITDA in then range of $1.722-$1.732 billion, funds from operations in the range of $982-$992million, AFFO per share in the range of $3.84-$3.88 and net income in the range of $102-$198 million and net income per share diluted in the range of $0.35-$0.68. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EBITDA of $424 million and AFFO per share of $0.92 for the second quarter of 2013; and EBITDA of $1.724 billion and AFFO per share of $3.71 for fiscal 2013. Full Article
Crown Castle International Corp Issues Q1 2013 FFO Guidance In Line With Estimates; Issues Q1 2013 EBITDA Guidance Below Analysts' Estimates; Raises FY 2013 Guidance
Crown Castle International Corp announced that for first quarter of 2013, it expects adjusted EBITDA in then range of $423 million to $428 million, funds from operations in the range of $195-$200 million, AFFO per share in the range of $0.89-$0.90 and net income (loss) in the range of $(17)-$23 million and net income (loss) per share diluted in the range of $(0.06)-$0.08. The Company raised fiscal 2013 guidance and expects adjusted EBITDA in then range of $1.691-$1.706 billion, funds from operations in the range of $928-$943million, AFFO per share in the range of $3.65-$3.70 and net income (loss) in the range of $58-$159 million and net income (loss) per share diluted in the range of $0.20-$0.54. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $429 million and FFO of $0.90 for first quarter of 2013; FFO of $3.52 for fiscal 2013. Full Article
Crown Castle International Corp Announces Closing Of Offering Of Senior Secured Notes By Certain Subsidiaries
Crown Castle International Corp announced that its subsidiary, CC Holdings GS V LLC (CCL), has closed its previously announced offering of $500.0 million aggregate principal amount of senior secured notes due 2017 and $1.0 billion aggregate principal amount of senior secured notes due 2023 (collectively, the Notes). CCL, through its subsidiaries, holds a majority of the U.S. towers originally acquired by Crown Castle in its 2007 acquisition of Global Signal, Inc. Full Article
Crown Castle International Corp Issues Q4, FY 2012, 2013 Earnings Guidance; Q4, FY 2012 EBITDA Guidance Above Analysts' Estimates; FY 2013 EBITDA Guidance Below Analysts' Estimates
Crown Castle International Corp announced that for the fourth quarter of 2012, it expects EBITDA to be in the range of $398-$403 million, FFO is expected to be in the range of $192-$231 million, AFFO is expected to be between $208-$213 million and Net income (loss) $15 to $50, Net income (loss) per diluted share is expected between $0.05-$0.17. For fiscal 2012, it expects EBITDA to be in the range of $1.536-$1,541 billion, FFO is expected to be in the range of $797-$836 million, AFFO is expected to be between $850-$855 million and Net income (loss) $220-$264, Net income (loss) per diluted share is expected between $0.75-$0.90. For fiscal 2013, it expects EBITDA to be in the range of $1.595-$1.610 billion, FFO is expected to be in the range of $790-$830 million, AFFO is expected to be between $878 to $893 million and Net income (loss) $71-$180, Net income (loss) per diluted share is expected between $0.24-$0.62. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $392 million for the fourth quarter of 2012; EBITDA of $1.51 billion for fiscal 2012 and EBITDA of $1.66 billion for fiscal 2013. Full Article
Crown Castle International Corp Announces Pricing of Senior Notes Offering
Crown Castle International Corp announced today that it has priced its previously announced offering of $1.65 billion aggregate principal amount of senior notes due 2023. The notes will have an interest rate of 5.25% per annum and will be issued at a price equal to 100% of their face value. The net proceeds from the offering will be approximately $1.631 billion, after estimated issuance discounts, commissions and offering expenses payable by Crown Castle. Crown Castle anticipates using the net proceeds from the offering, together with cash on hand and funds from its revolving credit facility, to finance the consideration to be paid to T-Mobile USA, Inc. (T-Mobile) and its affiliates in connection with the recently announced transaction between Crown Castle and T-Mobile (the "T-Mobile Transaction"). If for any reason the T-Mobile 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 this offering for general corporate purposes, which may include the repurchase or repayment of other indebtedness. Full Article
Crown Castle International Corp Issues Q3 2012 Guidance; EBITDA Guidance Above Analysts' Estimates; Raises FY 2012 Guidance
Crown Castle International Corp announced that for third quarter of 2012, it expects adjusted EBITDA in the range of $387-$392 million, net income (loss) in the range of $17-$51 million and Net income (loss) per share diluted share in the range of $0.06-$0.18. For fiscal 2012, the Company expects adjusted EBITDA in the range of $1.518-$1.528 billion, net income (loss) in the range of $206-$281 million and Net income (loss) per share diluted share in the range of $0.71-$0.96. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $366 million, net income of $33 million and EPS of $0.12 for the third quarter of 2012; and EBITDA of $1.451 billion, net income of $235 million and EPS of $0.81 for fiscal 2012. Full Article
Crown Castle International Corp Issues Q2 2012 Mixed Guidance; Raises FY 2012 Guidance
Crown Castle International Corp announced that for second quarter of 2012, it expects site rental revenues to be in the range of $509-$514 million, adjusted EBITDA in the range of $360-$365 million, net income (loss) in the range of $106-$132 million and Net income (loss) per share diluted share in the range of $0.36-$0.45. For fiscal 2012, it expects site rental revenues to be in the range of $2.040-2.050 billion, adjusted EBITDA in the range of $1.455-$1.465 billion, net income (loss) in the range of $185-$260 million and Net income (loss) per share diluted share in the range of $0.63-$0.89. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $530 million, EBITDA of $338 million for second quarter of 2012; revenue of $2.15 billion, EBITDA of $1.39 billion for fiscal 2012. Full Article
Crown Castle International Corp Completes Acquisition Of NextG Networks
Crown Castle International Corp announced that it has completed its previously announced acquisition of NextG Networks, Inc., provider of outdoor distributed antenna systems. Full Article
Crown Castle International Corp Announces Proposed Offering of Senior Notes
Crown Castle International Corp announced that it is commencing a public offering of $1.0 billion of senior notes. The senior notes will be issued by Crown Castle International Corp and will be offered pursuant to an effective shelf registration filed with the Securities and Exchange Commission. Crown Castle will use the net proceeds from the offering to finance a tender offer for any and all of its outstanding 9% Senior Notes due 2015, and to redeem any of the 9% Senior Notes that remain outstanding after the expiration of the tender offer, subject to the applicable make-whole premium. Crown Castle will use any remaining net proceeds for general corporate purposes, which may include the repayment or repurchase of certain other outstanding indebtedness. Full Article
Crown Castle International Corp's Crown Castle Operating Company Completes New $3.1 Billion Credit Facility
Crown Castle International Corp announced that its direct wholly owned subsidiary, Crown Castle Operating Company (CCOC), completed a new $3.1 billion credit facility consisting of a $1.0 billion Senior Secured Revolving Credit Facility maturing on January 31, 2017, a $500 million Delayed-Draw Senior Secured Term Loan A Facility maturing on January 31, 2017, and a $1.6 billion Senior Secured Term Loan B Facility maturing on January 31, 2019. The Term Loan B was fully drawn at closing and the Revolver and the Term Loan A were undrawn at closing. The Term Loan A may be drawn in a single drawing on or prior to April 1, 2012. Loans under the Revolver and the Term Loan A bear interest at a per annum rate equal to LIBOR plus 2.0% to 2.75%, based on CCOC's total net leverage ratio. Loans under the Term Loan B bear interest at a per annum rate equal to LIBOR plus 3.0%. The proceeds of the loans under the New Facility were used in part to repay CCOC's existing revolving credit facility, to repay CCOC's existing term loan facility and to fund the acquisition of certain assets of Wireless Capital Partners, LLC. The New Facility is also expected to be used to fund the anticipated acquisition of NextG Networks for approximately $1.0 billion. The balance of the proceeds will be available for general corporate purposes, including acquisitions permitted under the terms of the New Facility and purchases of shares of common stock of Crown Castle. Full Article
TEXT-Fitch affirms Crown Castle's ratings
Dec 11 - Fitch Ratings has assigned a 'BBB-' rating to CC Holdings GS V LLC (GS V) proposed $1.5 billion senior secured notes. The two tranche issuance includes $1 billion in secured notes due 2023 and $500 million in senior secured notes due 2017. Crown Castle has also received preliminary commitments to increase its revolving credit facility by an additional $500 million, and expects to consummate such increase prior to the closing of the secured notes offering. Fitch has affirmed the followi
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