The deal will be funded with both existing cash and a revolver facility, and is expected to close by year's end. The sites are expected to contribute R$125.7M in cash leasing revenue and R$74.2M in tower cash flow in 2015.
In March, SBA closed a deal to buy 2,007 sites from Oi for $645M, and last November, it bought use rights for 2,113 sites from the carrier for $321M.
Last week, rival American Tower announced it's buying 2,530 Brazilian towers, along with use rights for another 2,110, for $978M. In 2013, In 2013, AMT bought NII Holding's Brazilian sites for $811M.
SBA had $6.5B in net debt at the end of Q1. It recently announced it's selling another $750M in debt, partly to refinance.