July 25, 2016 4:12 PM ET

Diversified Telecommunication Services

Company Overview of SBA Communications Corp.

Company Overview

SBA Communications Corporation owns and operates wireless communications tower structures, rooftops, and other structures that support antennas used for wireless communications in the United States and its territories, South America, Central America, and Canada. It operates through two segments, Site Leasing and Site Development. The company leases antenna space to wireless service providers on towers that it owns or operates; and manages rooftop and tower sites for property owners under various contractual arrangements. As of December 31, 2015, it owned 25,465 towers; and managed or leased approximately 5,500 actual or potential towers. The company also provides a range of site development ...

8051 Congress Avenue

Boca Raton, FL 33487

United States

Founded in 1989

1,310 Employees

Phone:

561-995-7670

Key Executives for SBA Communications Corp.

Chief Executive Officer, President and Director
Age: 58
Total Annual Compensation: $750.0K
Chief Financial Officer and Executive Vice President
Age: 44
Total Annual Compensation: $450.0K
President of International
Age: 51
Total Annual Compensation: $475.0K
Chief Administrative Officer, Executive Vice President and General Counsel
Age: 58
Total Annual Compensation: $475.0K
Executive Vice President of Site Leasing
Age: 47
Total Annual Compensation: $380.0K
Compensation as of Fiscal Year 2015.

SBA Communications Corp. Key Developments

SBA Communications Corporation Announces Pricing of $700 Million of Secured Tower Revenue Securities

SBA Communications Corporation announced that an indirect subsidiary of SBA has priced an offering of $700 million of Secured Tower Revenue Securities Series 2016-1, which have an anticipated repayment date of July 2021 and a final maturity date of July 2046. The Series 2016-1 Securities will be issued by SBA Tower Trust and will be guaranteed by, among others, SBA Guarantor LLC and SBA Holdings LLC. The Series 2016-1 Securities will bear interest at 2.877% per annum. Net proceeds from this offering will be used to make a cash distribution to SBA Guarantor LLC which will further distribute or contribute such amount to one or more other SBA entities, directly or indirectly, to be used to prepay in full $550 million outstanding of Series 2010-2C Securities, and for general corporate purposes. The offering of the Series 2016-1 Securities is expected to close on or about July 7, 2016. The Series 2016-1 Securities were offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, to institutional investors that qualify as 'accredited investors' within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act, and to certain non-'U.S. persons' in 'offshore transactions' as defined in, and in reliance on Regulation S under the Securities Act. The offer and sale of the Series 2016-1 Securities have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not and will not constitute an offer to sell any of the Series 2016-1 Securities or the solicitation of an offer to buy the Series 2016-1 Securities, nor shall there be any sale of the Series 2016-1 Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

SBA Communications Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Second Quarter Ending June 30, 2016 and Full Year of Fiscal 2016

SBA Communications Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported total revenues of $399.769 million against $410.094 million a year ago. Operating income was $97.602 million against $89.086 million a year ago. Income before provision for income taxes was $55.844 million against loss of $76.067 million a year ago. Net income was $53.639 million or $0.43 per basic and diluted share against loss of $79.030 million or $0.61 per basic and diluted share a year ago. Net cash provided by operating activities was $144.877 million against $178.408 million a year ago. Capital expenditures was $36.060 million against $68.1 million a year ago. Adjusted EBITDA was $274.655 million against $271.02 million a year ago. FFO was $212.091 million against $92.927 million a year ago. AFFO was $182.35 million against $184.569 million a year ago. AFFO per share was $1.45 against $1.41 a year ago. Net debt was $8,440.888 million. For the second quarter ending June 30, 2016, the company expects, total revenues of $369 to $406 million; tower cash flow of $290 to $295 million; adjusted EBITDA of $271.5 to $276.5 million; non-discretionary cash capital expenditures of $8.5 to $9.5 million; AFFO of $176.5 to $185.5 million; and discretionary cash capital expenditures of $85 to $95 million. For the full year of 2016, the company expects, total revenues of $1,608.0 to $1,643.0 million; tower cash flow of $1,174.0 to $1,189.0 million; adjusted EBITDA of $1,107.0 to $1,122.0 million; non-discretionary cash capital expenditures of $30 to $40 million; AFFO of $726.0 to $765.0 million; and discretionary cash capital expenditures of $255 to $275 million.

SBA Communications Corp. Presents at 3rd Annual MoffettNathanson Media and Communications Summit, May-18-2016 04:00 PM

SBA Communications Corp. Presents at 3rd Annual MoffettNathanson Media and Communications Summit, May-18-2016 04:00 PM. Venue: Le Parker Meridien, 119 West 56th Street, New York, NY 10036, United States. Speakers: Brendan T. Cavanagh, Chief Financial Officer and Executive Vice President.

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Recent Private Companies Transactions

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Date
Target
Merger/Acquisition
May 2, 2016
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Merger/Acquisition
February 25, 2016
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Merger/Acquisition
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24 Communication Sites
 

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