SBA Announces Pricing of $800 Million of Senior Notes by SBA Telecommunications
2012年7月11日 - 7:20AM
SBA Communications Corporation (Nasdaq:SBAC) ("SBA") announced
today that its wholly owned subsidiary SBA Telecommunications, Inc.
("Telecommunications"), has priced an offering of $800 million of
senior notes due 2020, which was upsized from the previously
announced $650 million (the "Notes"). The Notes will be guaranteed
on a senior, unsecured basis by SBA. SBA expects the closing of the
Notes to occur on July 13, 2012. The Notes will have an interest
rate of 5.750% and will be issued at a price of 100% of their face
value.
Telecommunications intends to use the net proceeds from this
offering to (1) repay all amounts outstanding under a bridge loan
under which a subsidiary of SBA borrowed an aggregate principal
amount of $400.0 million in connection with the Mobilitie
transaction and (2) repay all amounts outstanding under its
Revolving Credit Facility. The remaining proceeds will be used for
general corporate purposes.
The Notes will be offered only to qualified institutional buyers
under 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 under 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. Telecommunications and SBA have agreed to
file a registration statement with the Securities and Exchange
Commission (the "SEC") pursuant to which Telecommunications 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 and Central 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.
CONTACT: Mark DeRussy, CFA
Capital Markets
561-226-9531
Lynne Hopkins
Media Relations
561-226-9431
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