8-KRegulation FDExhibits & Filings

CROWN CASTLE INC. 8-K Report, Regulation FD Disclosure (Dec 17, 2008)

Filed December 17, 2008For Securities:CCI

Summary

Crown Castle Inc. (CCI) filed an 8-K on December 17, 2008, primarily to disclose the extension of its operating company revolving credit facility. The company announced on December 15, 2008, that it had secured commitments totaling $175 million to extend this facility for an additional 364 days. This extension is a positive development, particularly in the challenging economic environment of late 2008, as it provides the company with continued access to liquidity and financial flexibility. The extension is scheduled to be finalized on January 6, 2009, subject to standard closing conditions. This proactive measure by Crown Castle aims to ensure stability and operational continuity for the company by shoring up its credit arrangements. Investors would view this as a sign of prudent financial management in managing its debt obligations and maintaining its operational capacity.

Key Highlights

  • 1Crown Castle Inc. announced commitments to extend its operating company revolving credit facility by $175 million.
  • 2The credit facility extension is for a term of 364 days.
  • 3The extension is a proactive measure to ensure continued access to liquidity.
  • 4The scheduled closing date for the credit facility extension is January 6, 2009.
  • 5The extension is subject to customary closing conditions.
  • 6The announcement was made via a press release on December 15, 2008, furnished as part of the 8-K filing.

Frequently Asked Questions

The primary purpose of this 8-K filing is to publicly disclose that Crown Castle Inc. has received commitments to extend its operating company revolving credit facility by $175 million for an additional 364 days.

The extension of the credit facility is important as it demonstrates Crown Castle's ability to secure additional financing and maintain access to liquidity. This is particularly significant in a challenging economic climate, providing investors with confidence in the company's financial stability and its capacity to meet its operational and financial obligations.

The extension of the credit facility is scheduled to close on January 6, 2009, provided that all customary closing conditions are met.

When information is 'furnished' as part of an 8-K, it is generally not subject to the same liability provisions as 'filed' information under Section 18 of the Securities Exchange Act of 1934. This means the company is making the information public but is not necessarily incorporating it into registration statements or assuming the same level of legal responsibility as if it were formally 'filed' for all purposes.