Crown Castle Raises Additional Term Loans and Extends Maturity of Existing Facilities
February 13 2017 - 3:19PM
Crown Castle International Corp. (NYSE:CCI) (“Crown Castle”) today
announced that it borrowed $500 million of additional Tranche A
Term Loans (“Additional Term Loans”) and extended the maturity date
to January 21, 2022 on its Senior Unsecured Credit Facility
(“Credit Facility”). The Credit Facility consists of a $2.5 billion
Senior Unsecured Revolving Credit Facility (“Revolver”) and, after
giving effect to the incurrence of the Additional Term Loans, a
$2.5 billion Senior Unsecured Term Loan A Facility. The
proceeds of the Additional Term Loans were used to repay
outstanding borrowings under the Revolver. At closing, there was
approximately $2.4 billion in availability under the
Revolver. All other existing terms of the Credit Facility
remain unchanged.
ABOUT CROWN CASTLECrown Castle
provides wireless carriers with the infrastructure they need to
keep people connected and businesses running. With approximately
40,000 towers and 26,500 route miles of fiber supporting small
cells, Crown Castle is the nation's largest provider of shared
wireless infrastructure with a significant presence in the top 100
US markets.
Cautionary Language Regarding Forward
Looking StatementsThis press release contains
forward-looking statements that are based on Crown Castle
management's current expectations. Such forward-looking statements
are subject to certain risks, uncertainties and assumptions,
including prevailing market conditions and other factors.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those expected. More information about
potential risk factors that could affect Crown Castle's results is
included in our filings with the Securities and Exchange
Commission. The term “including”, and any variation thereof,
means “including, without limitation”.
Contacts: |
Dan
Schlanger, CFO |
|
Son
Nguyen, VP & Treasurer |
|
Crown
Castle International Corp. |
|
713-570-3050 |
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