BOCA RATON, Fla., Jan. 2, 2013 (GLOBE NEWSWIRE) -- SBA Communications Corporation (Nasdaq:SBAC) ("SBA") today announced that SBA's 4.0% Convertible Senior Notes due 2014 (the "4.0% Notes") and SBA's 1.875% Convertible Senior Notes due 2013 (the "1.875% Notes") are convertible by holders of such notes. Pursuant to the terms of the Indentures that govern the 4.0% Notes and the 1.875% Notes, SBA has the right, from time to time, to elect to satisfy its conversion obligation under the 4.0% Notes and the 1.875% Notes in shares of SBA's Class A common stock, cash or a combination of SBA's Class A common stock and cash, and that election is effective until SBA provides notice of a different method of settlement. Upon issuance of both the 4.0% Notes and the 1.875% Notes, SBA elected to settle such notes in shares of SBA's Class A common stock and those elections are still in effect.
Conversion Right Triggered On SBA Communications' 4.0% Convertible Senior Notes (CUSIP# 78388JAM8) And 1.875% Convertible Senior Notes (CUSIP# 78388JAN6)
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