SBA Communications Corporation Announces Offering of $800 Million of Senior Notes
August 01 2016 - 8:27AM
SBA Communications Corporation (NASDAQ:SBAC) (“SBA”) announced
today that it has commenced a private offering of $800 million
aggregate principal amount of senior notes due 2024 (the “Notes”).
SBA intends to use the net proceeds from the offering, along
with cash on hand, to redeem all of SBA Telecommunications, LLC’s
5.75% senior notes due 2020, which are redeemable upon notice of
not less than 30 days.
The Notes will be offered only to qualified institutional buyers
in accordance with Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”), and to non-U.S. persons in
transactions outside the United States in reliance on Regulation S
under the Securities Act. The Notes have not been registered under
the Securities Act, or any state securities laws, and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws. SBA has agreed
to file a registration statement with the Securities and Exchange
Commission (the “SEC”) pursuant to which SBA will either offer to
exchange the Notes for substantially similar registered notes or
register the resale of the Notes. This press release does not and
will not constitute an offer to sell any of the Notes or the
solicitation of an offer to buy the Notes, nor shall there be any
sale of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About SBA Communications Corporation
SBA Communications Corporation is a first choice provider and
leading owner and operator of wireless communications
infrastructure in North, Central and South America. By “Building
Better Wireless”, SBA generates revenue from two primary
businesses—site leasing and site development services. SBA’s
primary focus is the leasing of antenna space on its multi-tenant
towers to a variety of wireless service providers under long-term
lease contracts.
Information Concerning Forward-Looking
Statements
This press release includes forward-looking statements regarding
the offering of the Notes and the intended use of the net proceeds.
These forward-looking statements may be affected by risks and
uncertainties in SBA’s business and market conditions. This
information is qualified in its entirety by cautionary statements
and risk factor disclosure contained in SBA’s SEC filings,
including SBA’s report on Form 10-K filed with the SEC. SBA wishes
to caution readers that certain important factors may have affected
and could in the future affect SBA’s actual results and could cause
SBA’s actual results for subsequent periods to differ materially
from those expressed in any forward-looking statement made by or on
behalf of SBA, including the risk that the offering of the Notes
cannot be successfully completed. SBA undertakes no obligation to
update forward-looking statements to reflect events or
circumstances after the date hereof.
Your Signal Starts Here.
Contacts:
Mark DeRussy, CFA
Capital Markets
561-226-9531
Lynne Hopkins
Corporate Communications
561-226-9431
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