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8-K filed November 16, 2022, 6:59 PM ET ticker SBAC CIK 0001034054
debt confidence high sentiment neutral materiality 0.65

SBA COMMUNICATIONS CORP (SBAC): debt financing — SBA Communications issues $850M 6.599% tower notes; refinances $640M existing series

SBA COMMUNICATIONS CORP

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SBA COMMUNICATIONS CORP incurred senior notes of $44.8 million principal amount with SBA Guarantor at 7.870% per annum maturing anticipated repayment date in January 2028, final maturity date in November 2052.

Instrument
senior notes
Principal
$44.8 million principal amount
Counterparty
SBA Guarantor
Rate
7.870% per annum
Maturity
anticipated repayment date in January 2028, final maturity date in November 2052
Event
incurrence
Exact text from the filing
under the Securities Exchange Act of 1934, as amended (the “Risk Retention Rules”), SBA Guarantor, an affiliate of SBA Depositor (“SBA Guarantor”) also agreed to purchase $44.8 million principal amount of Secured Tower Revenue Securities, Series 2022-1, Subclass 2022-1R (the “2022-1R Tower Securities” and together with the 2022-1C Tower Securities, the “2022
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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SBA COMMUNICATIONS CORP incurred senior notes of $850.0 million aggregate principal amount with Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities, LLC and Goldman Sachs & Co. LLC at 6.599% per annum maturing anticipated repayment date in January 2028, final maturity date in November 2052.

Instrument
senior notes
Principal
$850.0 million aggregate principal amount
Counterparty
Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities, LLC and Goldman Sachs & Co. LLC
Rate
6.599% per annum
Maturity
anticipated repayment date in January 2028, final maturity date in November 2052
Event
incurrence
Exact text from the filing
agreed to sell $850.0 million aggregate principal amount of Secured Tower Revenue Securities, Series 2022-1, Subclass 2022-1C (the "2022-1C Tower Securities") to the Initial Purchasers.
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SBA COMMUNICATIONS CORP entered into Purchase Agreement with Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities, LLC and Goldman Sachs & Co. LLC, as representatives of the several initial purchasers valued at $850.0 million aggregate principal amount (effective 2022-11-15).

Action
entry
Agreement
underwriting
Counterparty
Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities, LLC and Goldman Sachs & Co. LLC, as representatives of the several initial purchasers
Value
$850.0 million aggregate principal amount
Effective
2022-11-15
Exact text from the filing
On November 15, 2022, SBA Senior Finance, LLC (“SBA Senior Finance”), an indirect subsidiary of SBA Communications Corporation (the “Company”), entered into a Purchase Agreement (the “Purchase Agreement”) among SBA Senior Finance, Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), and Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities, LLC and Goldman Sachs & Co. LLC, as representatives of the several initial purchasers named on Schedule I thereto (the “Initial Purchasers”), pursuant to which SBA Tower Trust, a New York common law trust established by SBA Depositor LLC, an indirect subsidiary of the Company (“SBA Depositor”), agreed to sell $850.0 million aggregate principal amount of Secured Tower Revenue Securities, Series 2022-1, Subclass 2022-1C (the “2022-1C Tower Securities”) to the Initial Purchasers.
View on SEC.gov

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SBA COMMUNICATIONS CORP filing history →

Source: SEC EDGAR
accession 0001193125-22-286848
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