(Bloomberg) -- Wireless infrastructure provider SBA Communications Corp. has postponed the repricing of a $2.3 billion leveraged loan it was seeking to wrap up this week, according to people with knowledge of the matter.
TD Securities was leading the deal, which sought to cut the margin on a loan taken out in January by 25 basis points. But it notified lenders Monday morning that the transaction was being postponed due to “market conditions,” said the people, who asked not to be identified as the details are private.
Representatives from SBA and TD didn’t respond to a request for comment.
The pulled deal comes as broader markets have wobbled in the wake of a global equities rout that started Friday following a disappointing US employment report, leading to a selloff in riskier corners of many asset classes.
In the US, some 10 blue-chip companies that were looking to sell bonds stood down amid the turmoil while a gauge of perceived risk in the corporate credit market widened the most since the Monday after Silicon Valley Bank collapsed in 2023.
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