Key Developments: SBA Communications Corp (SBAC.OQ)

SBAC.OQ on NASDAQ Stock Exchange Global Select Market

112.66USD
26 Dec 2014
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Latest Key Developments (Source: Significant Developments)

SBA Communications Corp gives Q4 2014 guidance in line with analysts' estimates; raises FY 2014 guidance; gives FY 2015 guidance; EBITDA guidance below analysts' estimates
Tuesday, 4 Nov 2014 04:02pm EST 

SBA Communications Corp:Expects Q4 2014 total revenue to be in the range of $390.5 to $400.5 mln.Expects Q4 2014 adjusted EBITDA in the range of $257.0 to $262.0 mln.Expects FY 2014 total revenue to be in the range of $1.513 to $1,523 bln.Expects FY 2014 adjusted EBITDA in the range of $ 989.1 to $ 994.1 mln.Expects FY 2015 total revenue to be in the range of $1.641 to $ 1.686 bln.Expects FY 2015 adjusted EBITDA in the range of $1.096 to $ 1.116 bln.Q4 2014 revenue of $394.90 mln and EBITDA of $258.0 mln - Thomson Reuters I/B/E/S.FY 2014 revenue of $1.510 bln and EBITDA of $984.4 mln - Thomson Reuters I/B/E/S.FY 2015 revenue of $1.679 bln and EBITDA of $1.119 bln - Thomson Reuters I/B/E/S.  Full Article

SBA Communications Corp announces pricing of $1.540 bln of secured tower revenue securities
Wednesday, 8 Oct 2014 08:00am EDT 

SBA Communications Corp:Says an indirect subsidiary of SBA has priced an offering of $1.540 bln of Secured Tower Revenue Securities.Says offering includes $920 mln of series 2014-1C securities which have an anticipated repayment date of Oct. 2019 and final maturity date of Oct. 2044, and $620 mln of series 2014-2C securities which have an anticipated repayment date of Oct. 2024 and final maturity date of Oct. 2049.The Offered Securities will be issued by SBA Tower Trust and will be guaranteed by SBA Guarantor LLC and SBA Holdings LLC.The offered securities will have blended interest rate of 3.289 pct and a weighted average life through the anticipated repayment date of 7.0 years.The series 2014-1C securities will have an interest rate of 2.898 pct per annum, and series 2014-2C securities will have an interest rate of 3.869 pct per annum.Net proceeds from this offering will be used to make cash distribution to SBA Senior Finance, LLC which will further distribute or contribute such amount to one or more other SBA entities, directly or indirectly, to be used;.To prepay in full $680 mln outstanding of series 2010-1C securities, to pay off $300 mln on revolving credit facility incurred to repay 4 pct convertible senior notes due Oct. 1 and for general corporate purposes.The offering of offered securities is expected to close on or about Oct. 15.  Full Article

SBA Communications Corp gives Q3 2014 mixed guidance; raises FY 2014 guidance
Thursday, 24 Jul 2014 04:08pm EDT 

SBA Communications Corp:Expects Q3 2014 total revenue to be in the range of $343.0 mln to $348.0 mln.Expects Q3 2014 adjusted EBITDA in the range of $248.5 mln to $253.5 mln.Expects FY 2014 total revenue to be in the range of $1.500 bln to $1.520 bln.Expects FY 2014 adjusted EBITDA in the range of $982.0 mln to $992.0 mln.Q3 2014 revenue of $379.0 mln and EBITDA of $243.9 mln - Thomson Reuters I/B/E/S.FY 2014 revenue of $1.480 bln and EBITDA of $956.9 mln - Thomson Reuters I/B/E/S.  Full Article

SBA Communications to expand operations in Brazil with acquisition of 1,641 additional wireless sites
Wednesday, 25 Jun 2014 08:51am EDT 

SBA Communications Corp:Enters into a definitive agreement with certain subsidiaries of Oi SA and its affiliates, under which SBA will acquire 1,641 wireless sites in Brazil.Oi will enter into a long-term lease with SBA, with monthly lease payments, for antenna space on each of these sites.Transaction is expected to close by year end 2014.Consideration to be paid by SBA for the 1,641 sites will be about R$1.17 bln (or about US$527 mln at current exchange rates).  Full Article

SBA Communications Corp announces pricing of $750 million of senior notes
Tuesday, 17 Jun 2014 05:18pm EDT 

SBA Communications Corp:Prices offering of $750 mln aggregate principal amount of senior notes due 2022, which was upsized from the previously announced $600 mln (Notes).SBA expects the closing of the Notes to occur on July 1, 2014.Notes will have an interest rate of 4.875 pct and will be issued at price of 99.178 pct of their face value.SBA intends to use the net proceeds from the offering to redeem all of its 8.25 pct Notes due 2019, which are redeemable, upon notice of not less than 30 days, as of Aug. 15, 2014.Also uses to pay its conversion obligations with respect to about $121 mln aggregate principal amount of its 4.0 pct Convertible Senior Notes due 2014 (4.0 pct Notes).All remaining net proceeds will be used for general corporate purposes.SBA anticipates that its general corporate purposes will include an early unwind of a portion of the outstanding warrants underlying its 4.0 pct Notes for cash and paying in cash a portion of the principal amount outstanding of its 4.0 pct Notes upon their conversion.  Full Article

SBA Communications Corp announces offering of $600 mln of senior notes
Tuesday, 17 Jun 2014 07:36am EDT 

SBA Communications Corp:Says that it has commenced private offering of $600 mln aggregate principal amount of senior notes due 2022.SBA intends to use the net proceeds from offering to redeem all of its 8.25 pct notes due 2019, which are redeemable, upon notice of not less than 30 days, as of Aug. 15.Says to pay its conversion obligations with respect to about $121 mln aggregate principal amount of its 4.0 pct convertible senior notes due 2014.All remaining net proceeds will be used for general corporate purposes.SBA anticipates that its general corporate purposes will include an early unwind of portion of outstanding warrants underlying its 4.0 pct notes for cash and paying in cash a portion of the principal amount outstanding of its 4.0 pct notes upon their conversion.  Full Article

SBA Communications Corp gives Q2 2014 guidance above analysts' estimates; raises FY 2014 guidance
Thursday, 1 May 2014 04:02pm EDT 

SBA Communications Corp:Expects Q2 2014 total revenue to be in the range of $365.5 mln to $375.5 mln.Expects Q2 2014 adjusted EBITDA in the range of $236.5 mln to $241.5mln.Expects FY 2014 total revenue to be in the range of $1.447 bln to $1.487 bln.Expects FY 2014 adjusted EBITDA in the range of $942.0 mln to $962.0 mln.Q2 2014 revenue of $356.1 mln and EBITDA of $227.2 mln - Thomson Reuters I/B/E/S.FY 2014 revenue of $1.434 bln and EBITDA of $926.3 mln - Thomson Reuters I/B/E/S.  Full Article

SBA Communications Corp issues Q1 2014 guidance; EBITDA guidance above analysts' estimates; raises FY 2014 guidance
Tuesday, 25 Feb 2014 04:01pm EST 

SBA Communications Corp:Expects Q1 2014 total revenue to be in the range of $327.5 mln to $337.5 mln.Expects Q1 2014 adjusted EBITDA in the range of $212.5 mln to $217.5 mln.Expects FY 2014 total revenue to be in the range of $1.401 bln to $ 1.441 bln.Expects FY 2014 adjusted EBITDA in the range of $909 mln to $929 mln.Q1 2014 revenue of $337 mln and EBITDA of $211 mln - Thomson Reuters I/B/E/S.FY 2014 revenue of $1.39 bln and EBITDA of $896 mln - Thomson Reuters I/B/E/S.  Full Article

SBA Communications Corp announces new $1.5 bln financing
Friday, 7 Feb 2014 12:24pm EST 

SBA Communications Corp:Says its subsidiary, SBA Senior Finance II LLC has obtained a new delayed draw $1.5 bln, seven-year, senior secured Term Loan B (the Term Loan) under its existing Senior Credit Agreement.Says the term loan is issued at 99.75 pct of par value and will mature in Mar. 2021.Says the first funding of $750 mln occurred on Feb. 7 and the second funding of $750 mln is expected to occur in Mar.Says it expects to use the proceeds from the term loan to retire existing tranche B term loans, to pay down existing balances on the revolving credit facility.Says to fund the consideration for the pending Oi acquisition and for general corporate purposes.Says the new term loan was arranged by Citigroup Global Markets Inc. and Barclays.  Full Article

SBA Communications Corp expands operations in brazil with acquisition of 2,007 additional wireless sites
Wednesday, 4 Dec 2013 07:15am EST 

SBA Communications Corp:Says it has entered into a definitive agreement with certain subsidiaries of Oi SA, one of Brazil's telecommunications service providers, and its affiliates, under which SBA will acquire 2,007 wireless sites in Brazil.Says upon closing of the transaction, Oi will enter into a long-term lease with SBA, with monthly lease payments, for antenna space on each of these sites.Says the sites currently have 1.6 tenants per site (including Oi) and include leases with all of the wireless carriers in Brazil.Says the transaction, subject to customary closing conditions, is expected to close on or before Mar. 31, 2014.Says this transaction follows SBA's previously announced acquisition of use rights to 2,113 sites from Oi, which transaction closed Nov.26.Says the consideration to be paid by SBA for the 2,007 sites will be approximately R$1.525 billion (or approximately $645 million at current exchange rates).Says SBA expects to fund the purchase price from cash on hand, existing revolver capacity and/or future debt issuances.  Full Article

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