SBA Communications to pay down revolver with notes proceeds

By Sara Rosenberg

New York, May 19 – SBA Communications Corp. plans to repay a portion of the borrowings under its revolving credit facility using some of the proceeds from a $500 million add-on offering to its existing 3.875% senior notes, according to a market source.

The notes were upsized from $400 million, with the additional proceeds raised earmarked for cash to the balance sheet.

SBA is a Boca Raton, Fla.-based owner and operator of wireless communications infrastructure.

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