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NII Holdings Prices Notes Offering

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February 12, 2013 | Comments (0)

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NII Holdings (NASDAQ: NIHD  ) announced the pricing of $750 million principal amount of 11 3/8% senior notes due in 2019 through its wholly owned subsidiary, NII International Telecom.

The size of the offering was increased from the $400 million amount it originally announced just last week to $750 million and were offered in a private placement. The issue price is 100% of the principal amount, and the sale is expected to close on or about Feb. 19.

NII previously said it planned to use the net proceeds for general corporate purposes, including the expansion of its existing network, either through capital expenditures for organic growth or acquisitions (including telecom spectrum licenses); deploying new network technologies; refinancing, repaying or repurchasing outstanding indebtedness; or other purposes.

NII Holdings markets Sprint Nextel's (NYSE: S  ) Nextel brand throughout Latin America.

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Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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Related Tickers

5/17/2013 4:00 PM
NIHD $8.31 Up +0.69 +9.06%
NII Holdings, Inc. CAPS Rating: ****
S $7.32 Up +0.04 +0.55%
Sprint Nextel CAPS Rating: **

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