SBA Communications to tender for all 9¾%, 8½% notes

By Jennifer Chiou

New York, March 17 - SBA Communications Corp. announced it intends to tender for all of its $216.9 million of 9¾% senior discount notes and $162.5 million of 8½% senior notes.

The Boca Raton, Fla., company also said it entered into a definitive agreement to acquire AAT Communications Corp. for $634 million in cash and the issue of 17,059,336 shares.

The company added it obtained a $1.1 billion bridge financing commitment from DB Structured Products, Inc. and JPMorgan Chase Bank, NA.

SBA said the acquisition, related bridge financing and tender offer are expected to close in the second quarter.

SBA owns and operates wireless communications infrastructure.

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