SBA Communications enters new USD 2.5 billion unsecured revolving credit facility with Wells Fargo-led lenders
SBAC•Covenants and replaced credit agreement
The agreement requires leverage tests, including total net leverage capped at 7.5x, or 8x temporarily following certain qualified acquisitions.
It replaced a prior senior credit agreement that was terminated once a USD 2.3 billion secured term loan and revolver borrowings were repaid.
New senior unsecured revolving credit facility
SBA Communications entered a new senior unsecured revolving credit agreement on July 23, 2026, providing a USD 2.5 billion facility maturing July 23, 2031.
Pricing is set at either SOFR or other RFR-based options, or a base rate, with rating-linked margins of 0.75%–1.375% or 0%–0.375%.
The facility includes a ratings-based commitment fee of 0.08%–0.20% on undrawn amounts, and proceeds are earmarked for general corporate purposes.
