Loan & DebtMay 1, 2026, 04:27 PM
Crown Castle Secures New $4.5B Revolving Credit Facility
AI Summary
Crown Castle Inc. has secured a new $4.5 billion unsecured revolving credit facility, replacing its existing credit agreement. This new facility, which matures on May 1, 2031, provides liquidity for general corporate purposes, including debt repayment and future acquisitions. The company utilized proceeds from the sale of its fiber solutions and small cells businesses to repay outstanding loans under the terminated existing credit agreement.
Key Highlights
- Crown Castle entered into a new $4.5 billion unsecured revolving credit facility.
- The new facility replaces the existing credit agreement.
- It includes a subfacility for letters of credit up to $100.0 million, with $39.4 million currently drawn.
- Crown Castle has the right to seek additional commitments up to $500.0 million.
- The facility matures on May 1, 2031, and is not subject to amortization.
- Proceeds can be used for general corporate purposes, including debt repayment and acquisitions.
- The company repaid outstanding loans under the Existing Credit Agreement using proceeds from asset sales.
- Covenants include a maximum consolidated total net debt to EBITDA ratio of 7.00 to 1.00.