Crown Castle’s Public Offerings of Common Stock and Mandatory Convertible Preferred Stock

Cravath represented Crown Castle International Corp. in connection with its US$3.063 billion offering of 41,400,000 shares of its common stock and its US$977.5 million offering of 9,775,000 shares of its Mandatory Convertible Preferred Stock. Crown Castle expects to use the net proceeds from these offerings to finance a portion of the consideration to be paid to AT&T Inc. and its affiliates in connection with the recently announced tower transaction between Crown Castle and AT&T. The offerings closed on October 28, 2013. Crown Castle owns, operates and leases towers and other infrastructure for wireless communications.

The Cravath team included partner Stephen L. Burns and associates John C. Duffy, Brent R. Tomlinson and Jared B. Taylor on corporate matters; and partner Andrew W. Needham and associates Christopher K. Fargo and Rachel H. Kiwi on tax matters. Corporate partner Andrew J. Pitts advised on the terms of the Mandatory Convertible Preferred Stock. Paul L. Sandler also worked on corporate matters.