SBA buys back $67.9 million notes

New York, Feb. 26 - SBA Communications Corp. said it bought back $67.9 million of its notes since the end of last year.

The repurchases were made up of $19.3 million principal amount of its 12% senior discount notes and $48.6 million principal amount of its 10¼% senior notes.

The Boca Raton, Fla., communications tower operator paid $66.0 million plus accrued interest and exchanged 1.0 million shares of class A common stock for the notes.

SBA also called for redemption on March 1 its remaining $46.3 million 12% senior discount notes.

During the fourth quarter SBA repurchased $153.3 million principal amount of its 12% senior discount notes through a tender offer and repurchased $83.6 million of its 10¼% senior notes in open market transactions. The company paid $246.6 million in cash plus accrued interest and exchanged 1.0 million shares of class A common stock.

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