US towerco SBA Communications will offer US$300m senior notes maturing in 2019 through a private offering.
SBA will put the proceeds from the debt offering towards paying a portion of the cash consideration of its acquisition of TowerCo. If that deal…
US towerco SBA Communications will offer US$300m senior notes maturing in 2019 through a private offering.
SBA will put the proceeds from the debt offering towards paying a portion of the cash consideration of its acquisition of TowerCo. If that deal does not close, SBA will put the proceeds towards general corporate purposes, the company said.
SBA agreed to buy TowerCo, with its 3,252 tower sites, for US$1.45bn at the end of June. SBA were advised on that deal by relationship bank JP Morgan.
No further details regarding SBA’s latest offering were released.
Moody’s assigned a B2 rating to the notes, noting that SBA will retire its unused bridge facility it had taken on in the context of the TowerCo transaction.
