BOCA RATON, Fla., March 14, 2014 (GLOBE NEWSWIRE) -- SBA Communications Corporation (Nasdaq:SBAC) ("SBA") announced today that on March 14, 2014 SBA provided notice to the trustee and holders of its 4.0% Convertible Senior Notes due 2014 (the "4.0% Notes") that it had elected to settle the principal amount of any conversions in cash and any additional conversion consideration at the conversion rate then applicable in shares of its Class A common stock, effective March 17, 2014. Concurrently with the settlement of any 4.0% Notes converted, SBA will settle the associated convertible note hedges and receive an equal number of shares to those issued to the noteholders.
About SBA Communications Corporation
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central and South America. By "Building Better Wireless", SBA generates revenue from two primary businesses - site leasing and site development services. SBA's primary focus is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.