FiberTower buys back $71.3 million in 9% convertibles due 2012 for $21.4 million in cash

By Devika Patel

Knoxville, Tenn., May 8 - FiberTower Corp. repurchased $71.3 million of its $402.5 million in 9% convertible senior secured notes due Nov. 15, 2012 for $21.4 million in cash plus interest in the first quarter, according to a 10-Q filed Friday with the Securities and Exchange Commission.

The purchases were made in the open market at a weighted average price of approximately 30.

The company said it may repurchase or retire additional notes.

San Francisco-based FiberTower is a provider of backhaul and access services to communications companies.

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