US towerco SBA Communications has priced its bond issue announced yesterday and increased the offering from US$650m to US$800m.
The eight-year notes have been priced at par and carry a coupon of 5.75%. SBA expects the closing of the notes to occur on…
US towerco SBA Communications has priced its bond issue announced yesterday and increased the offering from US$650m to US$800m.
The eight-year notes have been priced at par and carry a coupon of 5.75%. SBA expects the closing of the notes to occur on 13 July 2012.
The proceeds of the offering will be used to repay the outstanding amount on the US$400m bridge loan SBA took out with Barclays and JP Morgan to finance its purchase of Mobilitie in early April. It will also be used to repay a portion of debt outstanding on SBA’s revolving credit facility.
Standard & Poors have rated the proposed notes at B+ while Moody’s have assigned the offering B1.
