SBA Communications to draw on revolver for purchase of towers

By Sara Rosenberg

New York, March 19 - SBA Communications Corp. plans to use borrowings under its existing revolving credit facility, along with cash on hand, to fund the up to $193.5 million acquisition of 430 wireless communications towers owned by TowerCo LLC, according to a news release.

The specific number of towers and final purchase price will be determined at closing.

The transaction is expected to close on May 30, subject to customary closing conditions.

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

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