| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for SBA Communications Corp. > News item |
SBA to redeem some 9¾% notes due 2011, 8½% notes due 2012
By Jennifer Chiou
New York, Oct. 11 - SBA Communications Corp. and SBA Telecommunications, Inc. announced plans to partially redeem their 9¾% senior discount notes due 2011 and $87.5 million of their $250 million 8½% senior notes due 2012 on Nov. 7.
The company will pay 109.75% of the accreted balance of the 9¾% notes - $256,751,126 before the redemption - and intends to redeem an accreted balance of $42,898,788.
For the 9¾% notes, SBA said it will pay 108.5%.
SBA and SBA Telecommunications will also pay accrued interest up to the redemption date and will fund the redemption using proceeds from its 10 million-share class A stock issuance on Oct. 5.
U.S. Bank NA is trustee.
Boca Raton, Fla.-based SBA owns and operates wireless communications towers.
On June 2, the company said it would redeem $68.9 million of its outstanding 9¾% notes on June 30.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.