Ratings agencies Moody’s and Standard & Poor’s have given a Ba2 and a BB rating respectively to SBA Communication’s proposed US$300m incremental term loan B.
The loan, due 2019, is a new tranche that will be added to the towerco’s existing…
Ratings agencies Moody’s and Standard & Poor’s have given a Ba2 and a BB rating respectively to SBA Communication’s proposed US$300m incremental term loan B.
The loan, due 2019, is a new tranche that will be added to the towerco’s existing US$495m term loan B and will be issued by SBA’s indirect wholly owned subsidiary SBA Senior Finance II.
In June, SBA agreed to acquire US counterpart TowerCo for US$1.45bn, and proceeds of the new issue are expected to be used toward funding of the transaction, set to be closed in Q4/2012.
