SBAC prices $500M in tower revenue securities

• SBA Communications (NASDAQ:SBAC -1.1%) has priced $500M in secured tower revenue securities through a subsidiary.
• The company's SBA Tower Trust is issuing the securities, which will bear interest at 3.156%/year. Final maturity is in October 2045, though the anticipated repayment date is October 2020.
• Net proceeds will flow through to repay revolving credit, and for general purposes.