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SBA prices $402M offering

BOCA RATON, Fla.-SBA Communications Corp. has priced an offering of $402 million aggregate principal amount at maturity of its 9.75-percent senior discount notes due 2011.

SBA said it will use the $275 million in gross proceeds from the offering to repurchase up to $153.3 million of its outstanding 12-percent senior discount notes due 2008, to repurchase or redeem outstanding senior discount notes, and to repay debt outstanding under its senior credit facility.

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