Simpson Thacher Represents Initial Purchasers in $1.165 Billion Secured Tower Revenue Securities Offering by SBA Tower Trust
05.20.21
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Simpson Thacher represented the initial purchasers of $1.165 billion in aggregate principal amount of Secured Tower Revenue Securities (the “Securities”) issued by SBA Tower Trust (the “Trust”). The Securities were issued in one subclass, $1.165 billion in principal amount of Series 2021-1C Securities having a Pass-Through Rate of 1.631% and an anticipated repayment date of November 2026. The Securities represent interests in a mortgage loan made by the Trust to indirect wholly owned subsidiaries of SBA Communications Corporation (“SBA Communications”). The offering closed on May 14, 2021.
SBA Communications is a leading independent owner and operator of wireless communications infrastructure, including tower structures, rooftops and other structures that support antennas used for wireless communications.
The Simpson Thacher team included John Schueller and Kate Draper (Capital Markets); Jon Cantor and Kris Liu (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Krista McManus (Real Estate); and Jennie Getsin (Blue Sky).