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Crown Castle opens $250M credit facility


Published : Wed, 10 Jan 2007 17:13
By : Agencies
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HOUSTON (AFX) - Cell-phone tower company Crown Castle International Corp. on Wednesday said its subsidiary, Crown Castle Operating Co., opened a new $250 million senior revolving credit facility.

The credit facility matures on Jan. 8, 2008.

The company plans to use money from the credit facility for general corporate purposes, including investments, shares repurchases and dividends. The facility remained undrawn at closing.

Shares of Crown Castle rose 19 cents to $32.94 in morning trading on the New York Stock Exchange.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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