SBA plans to price $600 million eight-year notes in Tuesday drive-by

By Paul A. Harris

Portland, Ore., June 17 – SBA Communications Corp. plans to price a $600 million offering of eight-year senior notes Tuesday following a late-morning conference call with investors, according to a market source.

J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Deutsche Bank Securities Inc., RBS Securities Inc. and TD Securities are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes become callable after three years at par plus 75% of the coupon.

The Boca Raton, Fla.-based wireless communications infrastructure services provider plans to use the proceeds to redeem its 8¼% notes due 2019, as well as to fund the conversion premium on its 4% convertible notes due 2014 and for general corporate purposes.

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