Crown Castle International Corp. (NYSE:CCI) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On February 13, 2017, Crown Castle International Corp, a Delaware
corporation (Borrower), entered into Amendment No. 1 (Amendment)
among the Borrower, the lenders and issuing banks party thereto
and JPMorgan Chase Bank N.A. (JPM), as administrative agent, to
the Credit Agreement dated as of January 21, 2016 (as amended,
supplemented or otherwise modified, the Credit Agreement), by and
among the Borrower, the lenders and issuing banks from time to
time party thereto and JPM, as administrative agent.
corporation (Borrower), entered into Amendment No. 1 (Amendment)
among the Borrower, the lenders and issuing banks party thereto
and JPMorgan Chase Bank N.A. (JPM), as administrative agent, to
the Credit Agreement dated as of January 21, 2016 (as amended,
supplemented or otherwise modified, the Credit Agreement), by and
among the Borrower, the lenders and issuing banks from time to
time party thereto and JPM, as administrative agent.
The Amendment provides for (a) the extension of the maturity
date, from January 21, 2021 to January 21, 2022 (Extension), of
the Borrowers existing revolving credit facility (Existing
Revolving Credit Facility) and existing term loan facility
(Existing Term Loan Facility), each as provided under the Credit
Agreement, and (b) the incurrence of $500.0 million of tack-on
term loans (Tack-On Term Loans), which are part of the same class
as, and have terms substantially the same as the terms of, the
Existing Term Loan Facility, after giving effect to the
Extension. Proceeds of the Tack-On Term Loans were applied on
February 13, 2017 to prepay loans under the Existing Revolving
Credit Facility in an aggregate principal amount equal to $500.0
million.
date, from January 21, 2021 to January 21, 2022 (Extension), of
the Borrowers existing revolving credit facility (Existing
Revolving Credit Facility) and existing term loan facility
(Existing Term Loan Facility), each as provided under the Credit
Agreement, and (b) the incurrence of $500.0 million of tack-on
term loans (Tack-On Term Loans), which are part of the same class
as, and have terms substantially the same as the terms of, the
Existing Term Loan Facility, after giving effect to the
Extension. Proceeds of the Tack-On Term Loans were applied on
February 13, 2017 to prepay loans under the Existing Revolving
Credit Facility in an aggregate principal amount equal to $500.0
million.
The foregoing summary of the Amendment does not purport to be
complete and is subject to, and qualified in its entirety by, the
full text of the Amendment, which is attached hereto as Exhibit
10.1 and incorporated herein by reference. The Credit Agreement
has been previously filed with, and is described in, the
Borrowers Current Report on Form 8-K dated January 22, 2016.
complete and is subject to, and qualified in its entirety by, the
full text of the Amendment, which is attached hereto as Exhibit
10.1 and incorporated herein by reference. The Credit Agreement
has been previously filed with, and is described in, the
Borrowers Current Report on Form 8-K dated January 22, 2016.
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN
OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT
OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT
The information in Item 1.01 is incorporated herein by reference.
ITEM 8.01 OTHER EVENTS
On February 13, 2017, the Borrower issued a press release
announcing the effectiveness of the Amendment. The February 13,
2017 press release is attached hereto as Exhibit 99.1 and
incorporated herein by reference.
announcing the effectiveness of the Amendment. The February 13,
2017 press release is attached hereto as Exhibit 99.1 and
incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d)
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Exhibits
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Exhibit No. | Description | |
10.1
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Amendment No. 1 dated as of February 13, 2017, among Crown
Castle International Corp., the lenders and issuing banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent, to the Credit Agreement dated as of January 21, 2016, by and among Crown Castle International Corp., the lenders and issuing banks from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent. |
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99.1 |
Press Release dated February 13, 2017
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Crown Castle International Corp. (NYSE:CCI) Recent Trading Information
Crown Castle International Corp. (NYSE:CCI) closed its last trading session up +2.66 at 90.22 with 2,225,252 shares trading hands.