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Simpson Thacher represented the initial purchasers of $1.23 billion in aggregate principal amount of Secured Tower Revenue Securities issued by SBA Tower Trust. The Securities were issued in two subclasses, $680 million in principal amount of Series 2010-1C Securities having a Pass-Through Rate of 4.254% and an anticipated maturity of 5 years and $550 million in principal amount of Series 2010-2C Securities having a Pass-Through Rate of 5.101% and an anticipated maturity of 7 years. The Securities represent interests in a mortgage loan made by the Trust to indirect wholly owned subsidiaries of SBA Communications Corporation. Barclays Capital Inc. and Deutsche Bank Securities Inc. served as joint structuring advisors and joint bookrunning managers in the offering, which closed on April 16, 2010.  

SBA Communications Corporation is a leading independent owner and operator of wireless communications towers across North America. Based in Boca Raton, Florida, SBA is listed on the NASDAQ Global Select Market Composite Index under the symbol SBAC.

The Simpson Thacher team included Laura Palma, Peter Walgren and Wei Guo (Capital Markets); Mardi Merjian (Real Estate), Moshe Schwerd, Jason Vollbracht and Kurt Dudas (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Jennie Getsin (Blue Sky); and paralegal Laura Maio.