Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 56

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 56
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 million, $12.5 million, and $5.4 million in financing fees relating to the issuances of the 2019-1C Tower Securities, 2020-1C Tower Securities, 2020-2C Tower Securities, 2021-1C Tower Securities, 2021-2C Tower Securities, 2021-3C Tower Securities,

F-27Table of Contents

 2022-1C Tower Securities, 2024-1C Tower Securities, and 2024-2C Tower Securities, respectively. The financing fees are being amortized through the anticipated repayment date of the related Tower Security.(2)Interest paid monthly.(3)The Company used the proceeds from the issuance of the 2024-1C Tower Securities to repay the entire aggregate principal amount of the 2019-1C Tower Securities ($1,165.0 million) and the 2019-1R Tower Securities ($61.4 million) on January 15, 2025.(4)Net proceeds from this issuance were used to repay the entire aggregate principal amount of the 2014-2C Tower Securities ($620.0 million).(5)The interest rate reflected is the all-in interest rate including the impact of the Company’s treasury lock agreement.The table below sets forth the material terms of the Company’s Tower Securities that were repaid during the years ended December 31, 2024, 2023, and 2022:                              Security (1) Issue Date  Amount Outstanding ‎(in millions)  Interest ‎ Rate (2)  Anticipated Repayment Date  Actual Repayment Date2018-1C Tower Securities Mar. 9, 2018  $640.0  3.448%  Mar. 9, 2023  Dec. 15, 20222014-2C Tower Securities Oct. 15, 2014  $620.0  3.869%  Oct. 8, 2024  Oct. 8, 2024 (1)The Company incurred $8.6 million and $9.0 million in financing fees relating to the issuances of the 2018-1C Tower Securities and the 2014-2C Tower Securities, respectively, which were being amortized through the anticipated repayment date of the related Tower Security. In addition, the Company incurred $0.4 million and $0.2 million of deferred financing fees and accrued interest