HOUSTON, Dec. 30, 2013 (GLOBE NEWSWIRE) -- Crown Castle International Corp. ("Crown Castle") (NYSE:CCI) today announced that its direct wholly owned subsidiary, Crown Castle Operating Company ("CCOC"), borrowed $700.0 million, consisting of $500.0 million of Incremental Tranche B-2 Term Loans and $200.0 million of Incremental Tranche A Term Loans (combined, "Incremental Term Loans") under CCOC's existing Senior Secured Credit Agreement ("CCOC Credit Facility"). Further, CCOC extended the maturity date of each of its $1.5 billion Senior Secured Revolving Credit Facility ("Revolver") and its Senior Secured Term Loan A Facility ("Tranche A Term Loans") to November 1, 2018 (or, upon the satisfaction of certain events, January 31, 2019) and reduced the interest at a per annum rate under the Revolver and Tranche A Term Loans to LIBOR plus 1.50% to 2.25%, based on CCOC's total net leverage ratio.
Crown Castle Raises Incremental Term Loans And Extends Maturity Of Existing Facilities
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