Crown Castle Increases Revolving Credit Facility Commitments to $7.0 Billion and Extends Maturity of Existing Facilities

Rhea-AI Summary

Crown Castle announced it has amended its Senior Unsecured Credit Facility, increasing commitments by $2 billion, raising the total to $7 billion. The maturity of this Credit Facility has been extended to July 2027. The updated facility comprises a $1.2 billion Senior Unsecured Term Loan A and a $7 billion Revolving Credit Facility. This move aims to strengthen the company's financial flexibility and support its extensive portfolio of over 40,000 cell towers and 80,000 route miles of fiber across the U.S., enhancing connectivity for cities and businesses.

Positive

• Increased commitments under the Senior Unsecured Credit Facility by $2 billion to $7 billion.
• Extension of the Credit Facility maturity to July 2027 provides enhanced financial flexibility.

Negative

• None.

HOUSTON, July 08, 2022 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") announced today that it amended its Senior Unsecured Credit Facility ("Credit Facility") increasing the commitments under its Senior Unsecured Revolving Credit Facility ("Revolver") by $2.0 billion, for aggregate commitments of $7.0 billion, and extending the maturity of the Credit Facility to July 2027. The Credit Facility consists of a $1.2 billion Senior Unsecured Term Loan A Facility and, after giving effect to the increased commitments, a $7.0 billion Revolver.

ABOUT CROWN CASTLE

Crown Castle owns, operates and leases more than 40,000 cell towers and more than 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, CFO
Ben Lowe, SVP & Treasurer
Crown Castle International Corp.
713-570-3050

FAQ

What is the recent update regarding Crown Castle's credit facility?

Crown Castle announced an amendment to its Senior Unsecured Credit Facility, increasing commitments by $2 billion to a total of $7 billion and extending maturity to July 2027.

How much is Crown Castle's total credit facility after the amendment?

After the amendment, Crown Castle's total credit facility is $7 billion.

What is the maturity date of Crown Castle's amended credit facility?

The maturity date of Crown Castle's amended credit facility is July 2027.

What are the components of Crown Castle's credit facility?

Crown Castle's credit facility consists of a $1.2 billion Senior Unsecured Term Loan A and a $7 billion Revolving Credit Facility.

How does the credit facility amendment impact Crown Castle's financial flexibility?

The amendment enhances Crown Castle's financial flexibility by providing additional capital and a longer repayment timeline.