8-KMaterial AgreementsFinancial EventsExhibits & Filings

CROWN CASTLE INC. 8-K Report, Material Agreement (Jan 6, 2009)

Filed January 6, 2009For Securities:CCI

Summary

Crown Castle International Corp. (CCI) filed an 8-K on January 6, 2009, to report an amendment to its credit facility. The company's operating subsidiary, Crown Castle Operating Company, entered into a Second Extension Agreement that extends the maturity date of its revolving credit facility by 364 days, moving it to January 5, 2010. This extension provides the company with continued access to liquidity and financial flexibility. Initially announced with $175 million in commitments on December 15, 2008, the total revolving commitments under the extended facility have increased to $188 million due to additional commitments received. This action is particularly relevant given the economic conditions of early 2009, highlighting the company's proactive approach to managing its debt obligations and ensuring operational continuity.

Key Highlights

  • 1Extension of revolving credit facility maturity date by 364 days to January 5, 2010.
  • 2The amendment was executed on January 6, 2009, via a Second Extension Agreement.
  • 3The total revolving commitments under the extended facility increased from an initial $175 million to $188 million.
  • 4Crown Castle Operating Company is the borrower, and The Royal Bank of Scotland plc serves as the administrative agent.
  • 5This filing indicates proactive financial management and a focus on maintaining liquidity during a challenging economic period.
  • 6The filing incorporates Item 1.01 (Entry into a Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation).

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the extension of the maturity date for Crown Castle International Corp.'s revolving credit facility by 364 days, ensuring continued access to funds until January 5, 2010.

The total revolving commitments under the extended facility increased to $188 million, up from the $175 million initially announced.

The key parties are Crown Castle Operating Company (the borrower), Crown Castle International Corp. (a guarantor), and The Royal Bank of Scotland plc (as administrative agent for the revolving lenders).

This filing specifically concerns the extension of the maturity date of an existing revolving credit facility, not the issuance of new debt or a change in the total outstanding debt amount. It's about extending the availability of funds under the existing credit line.