SBA Communications amends credit agreement, cutting term loan interest rate
SBA Communications' subsidiary SBA Senior Finance II LLC amended its Third Amended and Restated Credit Agreement on October 2, 2024, lowering the stated interest rate on the Initial Term Loans. The filing says all other material terms are unchanged, and the change reduces the borrowing cost on that term loan for the company's subsidiary.
- Term Loan now bears interest at Base Rate plus 0.75% per annum or Term SOFR plus 1.75% per annum, at the Borrower's election
- Prepayment is allowed with no penalty, except a 1.0% fee on amounts prepaid from certain financing or repricing transactions within six months of the amendment's effective date
- Toronto Dominion (Texas) LLC is administrative agent; TD Securities (USA) LLC is lead arranger