{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-315142","form_type":"8-K","ticker":"SBAC","cik":"0001034054","company_name":"SBA COMMUNICATIONS CORP","filed_at":"2026-07-24T11:31:52+00:00","discovered_at":"2026-07-24T11:35:00.274120+00:00","generated_at":"2026-07-24T11:35:04.634091+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"SBA Communications issues $3.5B in senior notes, enters new $2.5B unsecured revolver","bullets":["Issued $1.35B of 4.875% Senior Notes due 2030, $1.35B of 5.150% Senior Notes due 2031, and $800M of 5.450% Senior Notes due 2033.","Net proceeds used to repay $2.3B secured term loan and $2.0B revolver under prior credit agreement.","Entered new $2.5B unsecured revolving credit facility maturing July 23, 2031, with margins from 0.75% to 1.375% over SOFR.","New credit facility requires Consolidated Total Net Leverage Ratio not to exceed 7.50x and Senior Secured Leverage Ratio not to exceed 3.50x.","Prior secured credit agreement terminated concurrently with closing of the offering and new facility."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-315142","json":"https://secwatch.observer/filing/0001193125-26-315142.json","markdown":"https://secwatch.observer/filing/0001193125-26-315142.md","text":"https://secwatch.observer/filing/0001193125-26-315142.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1034054/000119312526315142/0001193125-26-315142-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1034054/000119312526315142/d130705d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-07-24T11:35:04.634091+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}