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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. 

Company Quote

111.81
-0.73 -0.65%
4:00pm EDT