US towerco SBA Communications has closed a 5-year US$200m loan and increased an existing revolving credit facility by US$100m to US$700m. The maturity date of the facility was also pushed back to 2017.
Proceeds from the loan were used to pay down…
US towerco SBA Communications has closed a 5-year US$200m loan and increased an existing revolving credit facility by US$100m to US$700m. The maturity date of the facility was also pushed back to 2017.
Proceeds from the loan were used to pay down amounts outstanding under the revolving credit facility.
The senior secured term loan was issued at par and will carry interest at either the base rate plus a margin of 1% to 1.5%, or the Eurodollar rate plus a margin that ranges from 2% to 2.5%.
Loan repayments will be paid in quarterly instalments.
The joint arrangers of the loan were TD Securities (USA) LLC and Wells Fargo Securities, LLC.
