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News Breaks
June 25, 2014
08:53 EDTSBACSBA expands Brazil operations by acquiring 1,641 additional wireless sites
SBA Communications announced that it has entered into a definitive agreement with certain subsidiaries of Oi SA and its affiliates, under which SBA will acquire 1,641 wireless sites in Brazil. Upon closing of the transaction, Oi will enter into a long-term lease with SBA, with monthly lease payments, for antenna space on each of these sites. The sites currently have 1.4 tenants per site and include leases with all of the major wireless carriers in Brazil. The transaction, subject to customary closing conditions, is expected to close by year end 2014. This transaction was exclusively negotiated and is on terms and conditions similar to SBA's acquisition of 2,007 sites from Oi, which transaction closed March 31. The consideration to be paid by SBA for the 1,641 sites will be approximately $527M. SBA expects to fund the purchase price from cash on hand and existing revolver capacity. SBA anticipates that the sites will contribute approximately R$125.7M of cash leasing revenue and R$74.2M of tower cash flow to SBA's results for full year 2015. SBA anticipates that the transaction, upon closing, will be immediately accretive to AFFO per share. Upon consummating this transaction, SBA will own or have use rights with respect to approximately 7K sites in Brazil.
News For SBAC From The Last 14 Days
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November 19, 2014
13:10 EDTSBACDISH, Globalstar climb as wireless spectrum bids reportedly jump
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07:19 EDTSBACSpectrum auction positive for DISH, Globalstar, says JPMorgan
JPMorgan notes the AWS-3 spectrum auction continued on Tuesday with the aggregate value of licenses with bids at $16.4B, up from Monday's $8.9B and compared to the reserve price of $10.6B that the FCC set for the entire auction. The firm views the rise in prices as negative for telecom carriers that are spending more than expected, namely AT&T (T) and Verizon (VZ), and possibly T-Mobile (TMUS) and US Cellular. It views the prices as positive for independent spectrum owners like DISH (DISH) and Globalstar (GSAT), as well as tower companies American Tower (AMT), SBA Communications (SBAC) and Crown Castle (CCI).

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