NII Holdings Prices Notes Offering

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NII Holdings (NASDAQOTH: NIHDQ  ) 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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Rich Duprey

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.


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Related Tickers

12/31/1969 7:00 PM
NIHDQ $0.00 Down +0.00 +0.00%
NII Holdings, Inc. CAPS Rating: **
S $3.50 Up +0.03 +0.86%
Sprint CAPS Rating: **