BOCA RATON, Fla.--(BUSINESS WIRE)--SBA Communications Corporation (NASDAQ: SBAC) announced today that it has commenced a private offering of $1.5 billion aggregate principal amount of senior notes due 2029.
On January 12, 2021, SBA delivered a redemption notice with respect to all $750 million of its outstanding 4.000% Senior Notes due 2022 (the “2017 Notes”). SBA intends to use the net proceeds of the offering (i) to fully redeem all of the 2017 Notes and to pay all premiums and costs associated with such redemption, (ii) to repay amounts outstanding under its Revolving Credit Facility and (iii) for general corporate purposes. The 2017 Notes will be redeemable on February 11, 2021.
The Notes will be offered in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable securities laws of any other jurisdiction. SBA has agreed to file a registration statement with the Securities and Exchange Commission pursuant to which SBA will either offer to exchange the Notes for substantially similar registered notes or register the resale of the Notes. This press release does not and will not constitute an offer to sell any of the Notes or the solicitation of an offer to buy any of the Notes, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is neither an offer to purchase nor a solicitation of an offer to sell the 2017 Notes and this press release shall not constitute a notice of redemption in respect thereof.
About SBA Communications Corporation
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 32,000 communications sites in 14 markets throughout the Americas and South Africa, SBA is listed on NASDAQ under the symbol SBAC.
