HOUSTON-Crown Castle International Corp. said it intends to amend certain provisions of its restricted group operating company’s $1.2 billion credit facility and make certain changes to its capital structure. The plan is subject to the consent of its senior credit facility lenders.
The Opco facility is currently comprised of a $296 million Term A loan, a $399 million Term B loan and an unfunded $500 million revolving credit facility.
The company is proposing to increase its Term B loan by $601 million to $1 billion, extend the Term B loan maturity date and reduce the revolving credit facility commitment.
As part of the changes, Crown Castle said it would designate its U.K. subsidiary a restricted group subsidiary as defined in its bond indentures.
