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NII Holdings launches $75 million of five-year convertible notes
By Abigail W. Adams
Portland, Me., Aug. 7 – NII Holdings, Inc. launched an offering of $75 million five-year convertible notes after the market close on Tuesday, according to a company news release.
Further details were not available by press time.
The Rule 144A deal carries a greenshoe of $11.25 million.
The notes are contingently convertible until Feb. 15, 2023.
Conversions will be settled in cash, shares or a combination of both at the company’s option.
Proceeds will be used for general corporate purposes including to fund the cash flow needs of Nextel Brazil.
NII Holdings is a Reston, Va.-based provider of mobile communications services in Brazil.
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