Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 51

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 51
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, from time to time, borrow from and repay the Revolving Credit Facility. Consequently, the amount outstanding under the Revolving Credit Facility at the end of the period may not be reflective of the total amounts outstanding during such period.The key terms of the Revolving Credit Facility are as follows:               Unused  Interest Rate Commitment  as of Fee as of  December 31, 2024 (1) December 31, 2024 (2)     Revolving Credit Facility 5.407% 0.140%(1) (1)The rate reflected includes a 0.050% reduction in the applicable spread as a result of meeting certain sustainability-linked targets as of December 31, 2023.(2)The rate reflected includes a 0.010% reduction in the applicable commitment fee as a result of meeting certain sustainability-linked targets as of December 31, 2023.‎ 

F-25Table of Contents

 The table below summarizes the Company’s Revolving Credit Facility activity during the years ended December 31, 2024 and 2023 (in thousands):              For the year ended December 31, 2024 2023    Beginning outstanding balance$ 180,000 $ 720,000Borrowings  370,000   190,000Repayments  (550,000)   (730,000)Ending outstanding balance$ — $ 180,000Subsequent to December 31, 2024, the Company made no borrowings from the Revolving Credit Facility.Term Loan under the Senior Credit Agreement2024 Term LoanOn January 25, 2024, the Company, through its wholly owned subsidiary, SBA Senior Finance II, issued a term loan (the “2024 Term Loan”) under the amended and restated Senior Credit Agreement. The 2024 Term Loan consists of a senior secured term loan with an initial aggregate principal amount of $2.3 billion that matures on January 25, 2031. The 2024 Term Loan (as amended on October 2, 2024) accrues interest, at SBA Senior Finance II's election, at either the Base Rate (with a zero Base Rate floor) plus 75 basis points or at Term SOFR (with a floor of 0%) plus 175 basis points. The 2024 Term Loan was issued at 99.75% of par value. The proceeds from the 2024 Term Loan were used to retire the 2018 Term Loan and