ION Reprices Leveraged Loan After Shelving Separate August Deal [BNN Bloomberg (Canada)]
SBA Communications Corporation - Class A (SBAC)
Last sba communications corporation - class a earnings: 2/20 04:01 pm
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Source: BNN Bloomberg
The deal size was increased 9% to $575 million, and the unit of Andrea Pignataro's ION Group will pay down some of a euro-denominated term loan to make the new transaction leverage-neutral, according to a person familiar with the matter who asked not to be identified because the information is private. The new loan's margin is 3.75 percentage points over the Secured Overnight Financing Rate, issued at a discounted price of 99 cents on the dollar, the person said. The terms were unchanged from initial talk. ION Analytics was among at least seven borrowers that shelved leveraged-loan deals in August, as factors including a shaky jobs report raised concerns globally around economic softness and market positioning. Two of those transactions have resurfaced, with SBA Communications Corp. relaunching a $2.3 billion loan repricing on Thursday. A separate ION unit in May concluded a repricing it had pulled in early 2024, when concerns about the group's leverage caused debt prices to fa
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SBAC
News
- SBA Communications Corporation to Speak at the BofA Securities 2024 Leveraged Finance ConferenceBusiness Wire
- SBA Communications Co. (NASDAQ: SBAC) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- SBA Communications Co. (NASDAQ: SBAC) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- SBA Communications Co. (NASDAQ: SBAC) had its price target raised by analysts at TD Cowen from $251.00 to $261.00. They now have a "buy" rating on the stock.MarketBeat
- SBA Communications Co. (NASDAQ: SBAC) had its price target raised by analysts at BMO Capital Markets from $255.00 to $260.00. They now have an "outperform" rating on the stock.MarketBeat
SBAC
Earnings
- 10/28/24 - Miss
SBAC
Sec Filings
- 11/1/24 - Form 10-Q
- 10/28/24 - Form 8-K
- 10/18/24 - Form 4
- SBAC's page on the SEC website