8-KMaterial AgreementsFinancial EventsOther Events+1

CROWN CASTLE INC. 8-K Report, Material Agreement (Aug 29, 2017)

Filed August 29, 2017For Securities:CCI

Summary

Crown Castle Inc. (CCI) announced on August 29, 2017, a significant amendment to its existing credit agreement. This amendment, specifically Amendment No. 2, primarily extends the maturity date of its revolving credit facility and term loan facility from January 21, 2022, to August 29, 2022. This extension provides the company with greater financial flexibility and a longer runway for its debt obligations. Furthermore, the amendment includes a substantial increase in the aggregate commitments under the revolving credit facility by $1.0 billion, bringing the total commitments to $3.5 billion. This enhanced credit capacity suggests the company is positioning itself for potential future growth, acquisitions, or operational investments, bolstering its financial resources and demonstrating continued access to capital markets.

Key Highlights

  • 1Extension of Credit Facility Maturity: The maturity date for the revolving credit facility and term loan facility has been extended by one year, from January 21, 2022, to August 29, 2022.
  • 2Increased Revolving Credit Facility Commitment: The aggregate commitments under the revolving credit facility have been increased by $1.0 billion.
  • 3Total Revolving Credit Facility Size: The total aggregate commitments under the revolving credit facility will now be $3.5 billion post-amendment.
  • 4Material Definitive Agreement: The amendment constitutes a material definitive agreement filed with the SEC.
  • 5Enhanced Financial Flexibility: The extension and increased credit line offer greater financial flexibility for Crown Castle.
  • 6Confirmation of Access to Capital: The increase in credit commitments signals continued confidence from lenders and robust access to capital markets.
  • 7Company Name: Crown Castle International Corp. (Borrower)

Frequently Asked Questions

The primary purpose of the amendment is to extend the maturity date of Crown Castle's existing revolving credit facility and term loan facility by one year and to increase the total commitments under the revolving credit facility.

The amendment increases the aggregate commitments under the revolving credit facility by $1.0 billion, bringing the total to $3.5 billion. This provides Crown Castle with greater borrowing capacity.

The extension of the maturity date is effective as of August 29, 2017, pushing the new maturity date to August 29, 2022.

This filing pertains to an amendment of an existing credit agreement, specifically extending maturity dates and increasing commitment amounts. It does not indicate the issuance of new debt in itself, but rather enhances the availability of existing credit lines.