SBA Communications eyes $300 million of seven-year senior notes

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Sept. 20 - SBA Communications Corp. plans to sell $300 million seven-year senior notes (expected ratings B2/B-), according to a market source.

J.P. Morgan Securities LLC, Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBS Securities Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC are joint bookrunners for the Rule 144A and Regulation S with registration rights transaction.

The notes will be non-callable for four years.

Proceeds from the offering will be used to pay for a portion of the cash consideration payable in the TowerCo merger.

However, if the merger does not close proceeds will be used for general corporate purposes.

An investor call took place at 11:30 a.m. ET.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.