HOUSTON-Crown Castle International Corp. raised $850 million last week from the sale of two 12-year note issues totaling $482 million and a secondary offering of 21 million shares of common stock priced at $17.50 each.
Goldman, Sachs and Co. and Salomon Smith Barney jointly led the underwriting team for the concurrent public offering of debt and equity.
Crown Castle said it will use the proceeds to help pay for its $610 million purchase of 1,850 BellSouth Corp. wireless communications towers and its $275 million purchase of 650 similar structures from Powertel Inc.