Crown Castle International Corp. announced that it has received commitments from a group of lenders for a new $5.5 billion Senior Unsecured Credit Facility which is expected to consist of up to $3.5 billion of Senior Unsecured Revolving Credit Facilities and a $2.0 billion Senior Unsecured Term Loan A Facility. The borrower under the New Facility will be Crown Castle International Corp.

The New Facility is subject to negotiation, execution and delivery of definitive loan documentation and customary closing conditions. Crown Castle expects to close the New Facility prior to releasing its fourth quarter 2015 results, currently scheduled to occur after the market closes on January 27, 2016. Crown Castle intends to use net proceeds from the New Facility, together with cash on hand, to repay all outstanding borrowings under the existing Senior Secured Credit Facility of Crown Castle Operating Company.

As of September 30, 2015, the Existing Facility consisted of a $2.2 billion revolving credit facility, of which $1.0 billion of borrowings was outstanding, and $2.9 billion of term loans outstanding. Crown Castle's full year 2016 Outlook for interest expense remains $517 million to $537 million, which is unchanged from its previously provided Outlook.