The Firm represented the underwriters in connection with a registered offering of $1.35 billion aggregate principal amount of 4.875% Senior Notes due 2030, $1.35 billion aggregate principal amount of 5.150% Senior Notes due 2031 and $800 million aggregate principal amount of 5.450% Senior Notes due 2033 (collectively, the “Notes”) by SBA Communications Corporation (“SBA Communications”). Proceeds from the Notes were used (i) to repay borrowings under and terminate in full SBA Communications’ existing term loan and revolving credit facility, (ii) to pay fees and expenses in connection therewith and (iii) to fund cash to SBA Communications’ balance sheet.
The Firm also represented Wells Fargo Bank, National Association, as administrative agent in connection with a new $2.5 billion senior unsecured 5-year revolving credit facility for SBA Communications.
SBA Communications is a leading independent owner and operator of wireless communications infrastructure, including tower structures, rooftops and other structures that support antennas used for wireless communications.
The Simpson Thacher team included John C. Ericson, Adriana Estor-Restrepo, Leena Sanka and Lauren Zong (Capital Markets); Dan Kay, Christine Marshall, Alex Kleinhaus-Resisi, Steven Ari Halpern and Santiago Peralta Ramos (Credit); Jonathan Cantor and Jason Yoo (Tax); Alexander Franchilli and Maya Bar (Intellectual Property); George Gerstein, Pasco Struhs and Alexander Kharash (Executive Compensation and Employee Benefits); Krista McManus (Real Estate); and Jennie Getsin (FINRA and Blue Sky). Summer Associate Caitlin V. Anderson also provided valuable assistance.