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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