SBA Communications sells $3.5B in senior notes

SBA Communications completed an offering of three series of senior notes under its automatic shelf registration statement on Form S-3.

Rhea-AI Filing Summary

SBA Communications completed an offering of three series of senior notes under its automatic shelf registration statement on Form S-3. The company issued $1,350,000,000 of 4.875% Senior Notes due 2030, $1,350,000,000 of 5.150% Senior Notes due 2031, and $800,000,000 of 5.450% Senior Notes due 2033.

A current report provides the legal opinion of Greenberg Traurig, P.A. on the legality of the issuance and sale of these notes as Exhibit 5.1, together with the related consent and an Inline XBRL cover page data file.

Filing Explained

The filing identifies coupons of 4.875%, 5.150%, and 5.450% on senior notes maturing in 2030, 2031, and 2033.

The company reports that the offering closed on July 23, 2026, with the three senior-note series carrying stated coupons of 4.875%, 5.150%, and 5.450%, and maturities in 2030, 2031, and 2033; the structural consequence is completed debt obligations rather than an increase in the common-share count.

An S-3 shelf provides capacity for future registered securities sales, but this filing identifies a specific offering that has closed. The disclosure therefore concerns completed issuance and sale of the notes, not merely registration capacity.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

2030 Senior Notes Principal: $1,350,000,000 2031 Senior Notes Principal: $1,350,000,000 2033 Senior Notes Principal: $800,000,000 +1 more

4 metrics

2030 Senior Notes Principal $1,350,000,000 Aggregate principal amount of 4.875% Senior Notes due 2030

2031 Senior Notes Principal $1,350,000,000 Aggregate principal amount of 5.150% Senior Notes due 2031

2033 Senior Notes Principal $800,000,000 Aggregate principal amount of 5.450% Senior Notes due 2033

2030 Senior Notes Interest Rate 4.875% Coupon on Senior Notes due 2030

Key Terms

automatic shelf registration statement, prospectus supplement, aggregate principal amount, Senior Notes, +1 more

5 terms

automatic shelf registration statement regulatory

"filed a prospectus supplement to its automatic shelf registration statement"

An automatic shelf registration statement is a pre-approved filing that companies submit to securities regulators, allowing them to sell new shares or bonds quickly and efficiently when needed. It acts like a standing permit, enabling the company to raise money without going through a lengthy approval process each time, which can be helpful for responding promptly to market opportunities or needs. For investors, it provides transparency about the company's ability to raise funds and signals planning flexibility.

prospectus supplement regulatory

"filed a prospectus supplement to its automatic shelf registration statement"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

aggregate principal amount financial

"offering of $1,350,000,000 aggregate principal amount of 4.875% Senior Notes"

The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.

Senior Notes financial

"4.875% Senior Notes due 2030, 5.150% Senior Notes due 2031, and 5.450% Senior Notes"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

Inline XBRL technical

"cover page XBRL tags are embedded within the Inline XBRL document"

Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What debt securities did SBA Communications (SBAC) issue in July 2026?

SBA Communications issued three series of senior notes totaling $3.5 billion: $1.35 billion 4.875% notes due 2030, $1.35 billion 5.150% notes due 2031, and $800 million 5.450% notes due 2033 under an automatic shelf registration statement.

What is the purpose of SBA Communications' July 2026 current report (SBAC)?

The current report serves solely to provide the legal opinion of Greenberg Traurig, P.A. on the legality of issuing and selling the senior notes, along with the related consent and an Inline XBRL cover page interactive data file as exhibits.

When did SBA Communications' (SBAC) senior notes offering close?

The offering of SBA Communications’ senior notes closed on July 23, 2026. The notes were offered under a prospectus supplement dated July 14, 2026, and this current report later furnished the related legal opinion regarding their issuance and sale.

What interest rates apply to SBA Communications' (SBAC) new senior notes?

The senior notes carry fixed coupons of 4.875% for the 2030 series, 5.150% for the 2031 series, and 5.450% for the 2033 series. Each rate applies to the respective aggregate principal amount of notes issued in that maturity.

Who provided the legal opinion on SBA Communications' (SBAC) senior notes?

Greenberg Traurig, P.A. provided the legal opinion on the validity of the issuance and sale of SBA Communications’ 2030, 2031 and 2033 senior notes. This opinion is included as Exhibit 5.1, with a related consent included as Exhibit 23.1.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/23/2026 - 04:16 PM Accepted by SEC EDGAR 07/23/2026 - 04:15 PM Learn about SEC filing dates

SBA COMMUNICATIONS CORP false 0001034054 0001034054 2026-07-23 2026-07-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 23, 2026

SBA Communications Corporation

(Exact Name of Registrant as Specified in its Charter)

Florida		001-16853		65-0716501
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)
8051 Congress Avenue
Boca Raton, FL				33487
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s telephone number, including area code: (561) 995-7670

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, $0.01 par value per share		SBAC		The NASDAQ Stock Market LLC (NASDAQ Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 8.01 Other Events

On July 14, 2026, SBA Communications Corporation (the “Company”) filed a prospectus supplement to its automatic shelf registration statement on Form S-3 (Registration No. 333-277527) with the Securities and Exchange Commission relating to the Company’s offering of $1,350,000,000 aggregate principal amount of 4.875% Senior Notes due 2030 (the “2030 notes”), $1,350,000,000 aggregate principal amount of 5.150% Senior Notes due 2031 (the “2031 notes”), and $800,000,000 aggregate principal amount of 5.450% Senior Notes due 2033 (the “2033 notes” and, together with the 2030 notes and the 2031 notes, the “notes”), which closed on July 23, 2026. This Current Report on Form 8-K is being filed solely for the purpose of filing the opinion of Greenberg Traurig, P.A. relating to the legality of the issuance and sale of the notes set forth in the prospectus supplement, which opinion is attached as Exhibit 5.1 hereto.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Index

Exhibit No.		Description
5.1		Opinion of Greenberg Traurig, P.A. (including the consent required with respect thereto)
23.1		Consent of Greenberg Traurig, P.A. (included in Exhibit 5.1)
104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		SBA COMMUNICATIONS CORPORATION
		By:		/s/ Marc Montagner
		Name:		Marc Montagner
		Title:		Executive Vice President and Chief Financial Officer

Date: July 23, 2026

3

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-5.1 EX-5.1 12.2 KB
• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB