HOUSTON-Crown Castle International Corp.’s U.K. subsidiary, Castle Transmission International Ltd., increased its revolving senior credit facility to $236 million.
The bank syndicate led by Credit Suisse First Boston has expanded from six banks to 19 banks in the new facility, said the company. Two-thirds of the facility will be used to fund the company’s current phase of the digital terrestrial television network buildout and future phases as they develop, and the remainder is available for future acquisitions, expansion and general corporate purposes.
In other news, Crown Castle said TeleDiffusion de France International S.A. exercised its pre-emptive right to purchase nearly 8.4 million shares of Crown common stock at $16.80 per share. The exercise is part of a governance agreement between Crown and TdF. Crown said it signed a new supplemental agreement that allows it to acquire the 20-percent interest in Castle Transmission Services Holdings Ltd. held by TdF.
