SBA Communications Corp Announces Pricing of $500 Million of Senior Notes


Thursday, 20 Sep 2012 05:14pm EDT 

SBA Communications Corp announced that it has priced an offering of $500 million of senior notes due 2019, which was upsized from the previously announced $300 million (the Notes). SBA expects the closing of the Notes to occur on September 28, 2012. The Notes will have an interest rate of 5.625% and will be issued at a price of 100% of their face value. SBA intends to use the net proceeds from this offering to pay a portion of the cash consideration required in connection with SBA's pending acquisition of TowerCo II Holdings LLC. To the extent that the TowerCo acquisition does not close, SBA intends to use the net proceeds for general corporate purposes. 

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