SBA Communications Corporation (SBAC) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 25, 2024, SBA Senior Finance II LLC, a subsidiary of SBA Communications Corporation, entered into the Third Amended and Restated Credit Agreement with its guarantors, several lenders, joint lead arrangers, joint book runners, co-documentation agents, a sustainability structuring agent, and an administrative agent. This agreement increased their revolving credit from $1.5 billion to $1.75 billion and extended its maturity from 2026 to 2029, incorporating new interest rate benchmarks and sustainability-linked adjustments. Additionally, it provided for a new $2.3 billion Term Loan to refinance an existing loan and introduced amendments to align with the Borrower’s expanded international operations. Concurrently, a Third Amended and Restated Guarantee and Collateral Agreement was executed to guarantee the borrowing under the new credit terms.
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