NEW YORK-Tower company SpectraSite Holdings Inc. has defaulted on $200 million of bonds originally due Sept. 15 and now past a 30-day grace period.
The company began negotiations last month regarding financial restructuring and told RCR Wireless News that a Chapter 11 filing was a possibility, adding that bankruptcy would not affect its operating arm, SpectraSite Communications. SpectraSite is currently trading at 7 cents per share.
