SBA Announces Pricing of $610 Million of Secured Tower Revenue Securities
2012年7月27日 - 9:00PM
SBA Communications Corporation (Nasdaq:SBAC) ("SBA") announced
today that an indirect subsidiary of SBA has priced an offering of
$610 million of Secured Tower Revenue Securities Series 2012-1 (the
"Series 2012-1 Securities"), which have an anticipated repayment
date of December 2017 and a final maturity date of 2042. The Series
2012-1 Securities will be issued by SBA Tower Trust and will be
guaranteed by SBA Guarantor LLC and SBA Holdings LLC.
The Series 2012-1 Securities will bear interest at 2.933% per
annum, payable monthly. Net proceeds from this offering will
be used to make a cash distribution to SBA Senior Finance, LLC
which will further distribute or contribute such amount to one or
more other SBA entities, directly or indirectly, to be used to (1)
retire in full the remaining approximately $244 million of 8.0%
Senior Notes due 2016 issued by SBA Telecommunications, Inc. and
pay the premium associated with early redemption, (2) pay a portion
of the cash consideration required in connection with SBA's pending
acquisition of Towerco, and (3) fund other general corporate
purposes. The offering of the Series 2012-1 Securities is expected
to close on or about August 9, 2012.
The Series 2012-1 Securities were offered only to qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the "Securities Act"), to institutional
investors that are accredited investors within the meaning of Rule
501 under the Securities Act pursuant to Rule 506 under the
Securities Act, and to certain non-U.S. persons in transactions
outside the United States in reliance on Regulation S under the
Securities Act. The Series 2012-1 Securities have not been and will
not be 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. This press release does not and will not constitute an offer
to sell any of the Series 2012-1 Securities or the solicitation of
an offer to buy the Series 2012-1 Securities, nor shall there be
any sale of the Series 2012-1 Securities 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 Series 2012-1 Securities 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 Series 2012-1 Securities or the acquisition of
Towerco 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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