Simpson Thacher Represents Initial Purchasers in $1,540 Million Secured Tower Revenue Securities Offering by SBA Tower Trust
10.16.14
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Simpson Thacher represented the initial purchasers of $1,540 million in aggregate principal amount of Secured Tower Revenue Securities issued by SBA Tower Trust. The Securities were issued in two subclasses, $920 million in principal amount of Series 2014-1C Securities having a Pass-Through Rate of 2.898% and an anticipated maturity of 5 years and $620 million in principal amount of Series 2014-2C Securities having a Pass-Through Rate of 3.869% and an anticipated maturity of 10 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., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC served as joint structuring advisors and joint bookrunning managers in the offering, which closed on October 15, 2014.
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 under the symbol SBAC.
The Simpson Thacher team included Laura Palma, Katerina Kousoula and Jeongseok Jay Yu (Capital Markets); Mardi Merjian (Real Estate); Michael Isby (Environmental); Jason Vollbracht (Tax); Jonathan S. Pall (Collateral); Gregory Grogan and Jeanne Annarumma (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).