Crown Castle Extends Maturity of Existing Credit Facility and Incorporates Sustainability Targets
June 18 2021 - 3:15PM
Crown Castle International Corp. (NYSE: CCI) ("Crown Castle")
announced today that it has amended its Senior Unsecured Credit
Facility ("Credit Facility"), consisting of a $5.0 billion Senior
Unsecured Revolving Credit Facility and a $1.2 billion Senior
Unsecured Term Loan A Facility. The amendment extends the maturity
of the Credit Facility to June 2026 and incorporates specified
annual sustainability targets. The Credit Facility pricing is
subject to adjustment based on Crown Castle's performance against
those targets.
"We appreciate the continued support from our
strategic lending partners and are excited to add targets to our
Credit Facility that reflect our efforts to reduce our net
emissions," stated Jay Brown, Crown Castle's Chief Executive
Officer. "Our business model is built on the concept that sharing a
single asset among multiple users creates long-term shareholder
value and is a sustainable means of meeting the growing demand for
connectivity. Incorporating sustainability targets into our Credit
Facility furthers our commitment to build upon the strong
foundation our business model provides."
CAUTIONARY LANGUAGE REGARDING
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking
statements that are based on Crown Castle management's current
expectations. Such statements include plans, projections and
estimates regarding the reduction to our net emissions and benefits
of our business model. 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 and its results is included in Crown
Castle's filings with the SEC. The term "including," and any
variation thereof, means "including, without limitation."
ABOUT CROWN CASTLE
Crown Castle owns, operates and leases more than
40,000 cell towers and approximately 80,000 route miles of fiber
supporting small cells and fiber solutions across every major U.S.
market. This nationwide portfolio of communications infrastructure
connects cities and communities to essential data, technology and
wireless service – bringing information, ideas and innovations to
the people and businesses that need them. For more information on
Crown Castle, please visit www.crowncastle.com.
CONTACTS Dan Schlanger, CFOBen Lowe, VP &
TreasurerCrown Castle International Corp.713-570-3050
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