SBA Communications to repay revolver with tower revenue note proceeds

By Marisa Wong

Morgantown, W.Va., Oct. 13 – SBA Communications Corp. plans to repay drawn amounts on its revolving credit facility using proceeds from an offering of tower revenue securities, according to an 8-K filing with the Securities and Exchange Commission.

The company priced $500 million of secured tower revenue securities. Proceeds will also be used for general corporate purposes.

The offering of 2015-1 securities is expected to close on Wednesday.

The wireless communications provider is based in Boca Raton, Fla.

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