---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-313427"
form_type: "8-K"
ticker: "SBAC"
cik: "0001034054"
company_name: "SBA COMMUNICATIONS CORP"
filed_at: "2021-10-29T23:59:59+00:00"
generated_at: "2026-06-28T16:03:56.477107+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SBA issues $1.79B tower securities at 1.84%-4.09%; repays revolver, redeems $1.1B of 4.875% notes due 2024

## Summary
- $895M 2021-2C at 1.840% due 2051 (anticipated repayment Apr 2027) and $895M 2021-3C at 2.593% due 2056 (anticipated repayment Oct 2031) issued.
- Affiliate retains $94.3M 2021-3R at 4.09% to satisfy risk retention requirements.
- Net proceeds ~$1.776B used to repay amounts outstanding under revolving credit facility and redeem $1.1B of 4.875% Senior Notes due 2024 on Nov 8, 2021.
- Mortgage loan increased by $1.79B to total $7.05B; $575M of 2013-2C tower securities prepaid.
- Ninth Loan Supplement executed; underlying collateral comprises ~9,900 tower sites with a 4.5% management fee to SBA Network Management.

## SEC filing metadata
- accession: 0001193125-21-313427
- form_type: 8-K
- ticker: SBAC
- cik: 0001034054
- company_name: SBA COMMUNICATIONS CORP
- filed_at: 2021-10-29T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1034054/000119312521313427/0001193125-21-313427-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1034054/000119312521313427/d251247d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-313427
- JSON: https://secwatch.observer/filing/0001193125-21-313427.json
- Plain text: https://secwatch.observer/filing/0001193125-21-313427.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.