NII talks $1 billion five-year convertibles at 2.625%-3.125%, up 45%-50%, to price Wednesday

By Kenneth Lim

Boston, May 29 - NII Holdings Inc. plans to price $1 billion of five-year convertible senior unsecured notes on Wednesday after the market closes, talked at a coupon of 2.625% to 3.125% and an initial conversion premium of 45% to 50%.

The convertibles will be offered at par.

There is an over-allotment option for an additional $200 million.

Deutsche Bank is the bookrunner of the Rule 144A offering.

The convertibles will be non-callable and may not be put.

The convertibles will have dividend and takeover protection.

NII, a Reston, Va.-based provider of digital wireless communication services, said it will use the proceeds to buy back up to 4 million shares of its common stock and to fund general corporate purposes.

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