SBA Communications: Stock price triggers conversion right on notes

By Tali David

Minneapolis, Oct. 4 - SBA Communications Corp. said holders of its $500 million 4% convertible senior notes due 2014 and 1.875% convertible senior notes due 2013 have the option to convert the notes until Dec. 31, according to a news release.

The company said the right to conversion for the 4% convertibles is a result of its class A common stock closing above $39.49 for 20 days out of the 30 days ended Sept. 30.

The company said the right to conversion for the 1.875% convertibles is a result of its class A common stock closing above $53.90 for 20 days out of the 30 days ended Sept. 30.

SBA is a Boca Raton, Fla.-based provider, owner and operator of wireless communications infrastructure.

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