Subsequent Events

3 Months Ended

Mar. 31, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

4.875% Senior Notes

In April 2014, the Company issued the 4.875% Senior Notes, which consist of $850.0 million of senior notes due in April 2022. The 4.875% Senior Notes have a stated interest rate of 4.875% per annum, with interest payment dates of April 15 and October 15 that commence on October 15, 2014. The 4.875% Senior Notes are general obligations of CCIC and rank equally with all existing and future senior debt of CCIC.

The net proceeds from the offering were approximately $839 million, after the deduction of associated fees. The Company utilized the net proceeds from the offering to (1) repay $300.0 million of the January 2010 Tower Revenue Notes and (2) redeem all of the previously outstanding 7.125% Senior Notes.

January 2010 Tower Revenue Notes

In April 2014, the Company completed the repayment of $300.0 million of the January 2010 Tower Revenue Notes with an anticipated repayment date in January 2015, resulting in a loss of approximately $4 million. See note 4.

7.125% Senior Notes

In May 2014, the Company completed the redemption of all of the previously outstanding 7.125% Senior Notes, resulting in a loss of approximately $41 million. See note 4.