---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-236794"
form_type: "8-K"
ticker: "SBAC"
cik: "0001034054"
company_name: "SBA COMMUNICATIONS CORP"
filed_at: "2024-10-11T23:59:59+00:00"
generated_at: "2026-05-30T15:12:18.947933+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SBA Communications issues $2.18B in tower securities to refinance existing debt

## Summary
- Issued $1.45B Series 2024-1C (4.831%) and $620M Series 2024-2C (5.115%) tower securities, plus $108.7M Class R (6.252%) for risk retention.
- Net proceeds ~$2.057B used to repay $620M 2014-2C and fund repayment of $1.165B 2019-1C and $61.4M 2019-1R in Jan 2025.
- Mortgage loan increased by $2.18B gross ($332.3M net) to $8.8B total, secured by ~9,523 tower sites.
- Effective rate on 2024-2C lowered to 4.654% via Treasury Rate Lock entered Sep 10, 2024.

## SEC filing metadata
- accession: 0001193125-24-236794
- form_type: 8-K
- ticker: SBAC
- cik: 0001034054
- company_name: SBA COMMUNICATIONS CORP
- filed_at: 2024-10-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- 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/1034054/000119312524236794/0001193125-24-236794-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1034054/000119312524236794/d859076d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-236794
- JSON: https://secwatch.observer/filing/0001193125-24-236794.json
- Plain text: https://secwatch.observer/filing/0001193125-24-236794.txt

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