SBA Communications issues $2.17B in tower securities to refinance existing debt

SBA COMMUNICATIONS CORP

Issued $1.45B of 2024-1C Tower Securities at 4.831% due Oct 2054 (anticipated repayment Oct 2029).
Issued $620M of 2024-2C Tower Securities at 4.654% due Oct 2054 (anticipated repayment Oct 2027).
Affiliate SBA Guarantor retains $108.7M of 2024-1R Tower Securities at 6.252% for risk retention.
Net proceeds to repay $1.846B of existing tower securities (2014-2C, 2019-1C, 2019-1R) plus accrued interest.
Expected closing on or about October 11, 2024.

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