Item 1.01 Entry into a Material Definitive Agreement.

The 2021 Refinancing Amendment

On July 7, 2021, SBA Senior Finance II LLC (the "Borrower"), a wholly-owned subsidiary of SBA Communications Corporation ("SBAC"), entered into the 2021 Refinancing Amendment (the "2021 Refinancing Amendment") with (i) SBAC, SBA Telecommunications, LLC, SBA Senior Finance, LLC and the direct and indirect subsidiaries of SBAC named therein, as guarantors, (ii) the several lenders from time to time parties thereto, (iii) TD Securities (USA) LLC and Mizuho Bank, Ltd., as the joint lead arrangers, (iv) TD Securities (USA) LLC, Mizuho Bank Ltd., Barclays Bank plc, Citigroup Global Markets Inc., Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC, as joint book runners, and (v) Toronto Dominion (Texas) LLC, as administrative agent, to the Seconded Amended and Restated Credit Agreement, dated as of February 7, 2014, (as amended, supplemented or modified from time to time, the "Credit Agreement").

The 2021 Refinancing Amendment increased the revolving credit commitments under the revolving credit facility from $1.25 billion to $1.5 billion aggregate principal amount, which may be borrowed, repaid and redrawn, based upon specific financial ratios. The 2021 Refinancing Amendment also extended the maturity date of the revolving credit facility from April 11, 2023 to July 7, 2026 and provided mechanics relating to a transition away from LIBOR as a benchmark interest rate and the replacement of LIBOR by an alternative benchmark rate.

As amended, amounts borrowed under the revolving credit facility accrue interest, at the Borrower's election, at either (i) the Eurodollar Rate (as defined in the Credit Agreement) plus a margin that ranges from 1.125% to 1.500% or (ii) the Base Rate (as defined in the Credit Agreement) plus a margin that ranges from 0.125% to 0.500%, in each case based on the Borrower's leverage ratio, reflecting a decrease of 0.25% to the upper limit of each respective margin range. Additionally, the 2021 Refinancing Amendment incorporates sustainability-linked mechanics into the Credit Agreement. Specifically, the applicable interest and commitment fee rates are subject to upward or downward adjustments of up to 0.05% and 0.01%, respectively, based upon the achievement of specified sustainability-linked targets related to tower lighting.

The 2021 Refinancing Amendment modified various definitions, financial ratio calculations and negative covenants in the Credit Agreement to reflect the increased size and scope of the revolving credit facility. All other material terms of the Credit Agreement, as amended, remain unchanged.

Relationships

Certain of the lenders and their affiliates have engaged, and may in the future engage, in investment banking, commercial banking and other financial advisory and commercial dealings with SBAC and its affiliates.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under

an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.




(d)  Exhibits



Exhibit
  No.                                    Description

10.7C        2021 Refinancing Amendment, dated as of July 7, 2021, among SBA
           Senior Finance II LLC, as borrower, the banks and other financial
           institutions or entities party hereto as refinancing revolving lenders,
           continuing term lenders, additional term lenders or incremental amended
           term lenders and Toronto Dominion (Texas) LLC, as administrative agent
           and issuing lender.

104        Cover Page Interactive File (the cover page tags are embedded within
           the Inline XBRL document).

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