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SBA Communications to price $800 million eight-year notes on Monday
By Paul Deckelman
New York, Aug. 1 – SBA Communications Corp. plans to sell $800 million eight-year notes (Ba3/B), the company announced on Monday.
High-yield syndicate sources said that the notes will come to market via Deutsche Bank Securities Inc.
The Rule 144A and Regulation S offering will be marketed to potential investors via a conference call scheduled for 10:30 a.m. ET on Monday, with pricing expected thereafter, the sources said.
The notes will have call protection for the first three years after issue.
SBA, a Boca Raton, Fla.-based wireless telecom infrastructure company, plans to use the net proceeds from the offering, along with cash on hand, to redeem all of SBA Telecommunications, LLC’s 5¾% senior notes due 2020, which are redeemable upon notice of not less than 30 days.
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