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SBA Communications Secures $300 Mil in Senior Notes for New Growth

BOCA RATON, FL-The locally based developer-operator of wireless telecommunication tower sites also proposes the exchange of $500 million in senior notes issued earlier this year.

By David R. Corder | Updated on April 27, 2001

BOCA RATON, FL-SBA Communications Corp. announced Thursday it has secured a new $300 million commitment to finance its growth strategy.

The Boca Raton-based developer-operator of wireless telecommunication tower sites expects to close by June 30 on a senior secured credit facility underwritten by Lehman Commercial Paper Inc., Barclays Bank, Bankers Trust Co., Citibank, and Toronto Dominion (Texas) Inc.

“The proceeds from the senior credit facility, together with our other resources, are expected to fund our current capital expenditure plans through the end of 2002,” Jeffrey A. Stoops, SBA president, says in a prepared statement.

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