Nextel Partners $100 million overnighter talked to yield 1.5% to 2.0%, up 37.5% to 42.5%

By Ronda Fears

Nashville, May 6 - Nextel Partners Inc. launched $100 million of 5.5-year convertible senior notes talked to yield 1.5% to 2.0% with a 37.5% to 42.5% initial conversion premium in the overnight Rule 144A market via lead manager Morgan Stanley.

The issue will be non-callable.

There is a $25 million greenshoe available.

Nextel Partners shares closed off 9c, or 1.5%, to $6.

The wireless service provider said proceeds would be used for general corporate purposes, including potential opportunistic purchases of currently outstanding debt.

Nextel Partners provides digital wireless communications services in mid-sized and tertiary markets throughout the U.S. under the Nextel brand.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.