---
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"
generated_at: "2026-07-24T11:35:04.634091+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SBA Communications issues $3.5B in senior notes, enters new $2.5B unsecured revolver

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-315142
- JSON: https://secwatch.observer/filing/0001193125-26-315142.json
- Plain text: https://secwatch.observer/filing/0001193125-26-315142.txt

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