SBA issues $1.79B tower securities at 1.84%/2.593%; redeems $1.1B notes due 2024

SBA COMMUNICATIONS CORP

Issued $895M Series 2021-2C (1.840%, due 2051) and $895M Series 2021-3C (2.593%, due 2056) tower securities.
SBA Guarantor purchased $94.3M Class 2021-3R securities (4.090%) to satisfy risk-retention requirement.
Proceeds to repay $575M of 2013-2C tower securities and for general corporate purposes, including debt repayment.
Called all $1.1B of 4.875% Senior Notes due 2024; redemption effective November 8, 2021.
Offering expected to close on or about October 27, 2021.

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