SBA Communications buys back $5 million 10¼% notes for stock, to exchange $5 million more Friday

Pittsburgh, Oct. 20 - SBA Communications Corp. bought back $5 million of its 10¼% senior notes in exchange for 710,000 shares of its common stock, according to a company 8-K with the Securities and Exchange Commission.

The company will also buy back an additional $5 million of notes in exchange for 683,000 shares of common stock in a deal to be settled Friday.

With these transactions, SBA has repurchased $18 million of its 10¼% notes and $1.25 million of its 9¾% notes, the release said.

The company has $252 million of 10¼% notes, $295.4 million of 9¾% notes and 63.1 million shares of common stock outstanding.

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