SBAC · 10-Q · 2026Q3 · Full report

Long-term Debt Issuance

SBA COMMUNICATIONS CORP · 2026-11-05 · Importance 75 · Surprise 60 · In source text

On July 23, 2026, SBA issued $3.5 billion of unsecured senior notes in three tranches, with coupon rates of 4.875%, 5.150%, and 5.450% and maturities in 2030, 2031, and 2033. The notes have a blended coupon rate of 5.113% and a weighted average maturity of 4.9 years; financing fees were $24.2 million. Net proceeds repaid $1.0 billion outstanding under the then-existing revolving credit facility and the $2.2 billion 2024 Term Loan, with the remainder for general corporate purposes. Concurrently, SBA established a new $2.5 billion unsecured Revolving Credit Facility maturing July 23, 2031.

Key facts

• On July 23, 2026, SBA issued $3.5 billion of unsecured senior notes in three tranches: $1.35 billion at 4.875% due January 15, 2030; $1.35 billion at 5.150% due July 15, 2031; and $0.8 billion at 5.450% due July 15, 2033. source
• SBA’s 2026 Senior Notes had a blended coupon rate of 5.113% and weighted average maturity of 4.9 years; financing fees were $24.2 million. source
• The 2024 Term Loan and then-existing revolving credit facility were repaid on July 23, 2026 using proceeds from the 2026 Senior Notes. source

Impact estimates