NII Holdings repurchases $2 million 4.25% convertible notes due 2023

By Sarah Lizee

Olympia, Wash., Jan. 23 – NII Holdings, Inc. closed its offer to repurchase its 4.25% convertible notes due 2023, according to a press release.

A total of $2 million of the notes were tendered by the expiration time. All tendered notes were accepted for repurchase.

As previously reported, the offer is based on the company’s completion of the sale of its wireless operations in Brazil, qualifying as a make-whole fundamental change.

The notes were repurchased at par plus interest on Jan. 21, the fundamental change repurchase date.

Noteholders exercised their repurchase option by delivering a notice by the close of business on Jan. 17.

Wilmington Trust (Wilmington Trust, NA, 50 South Sixth Street, Suite 1290, Minneapolis, MN, 55402, Attn: NII Holdings, Inc.) was working as the paying agent and tender agent.

In a separate notice, shareholders approved a plan to liquidate and dissolve NII following the completion of the pending sale of its operations in Brazil, its sole remaining operating asset. The sale was completed Dec. 18.

As a result, the company applied to delist its stock and intended to file a certificate for dissolution on or about Jan. 13.

NII Holdings is a Reston, Va.-based provider of mobile communications services in Brazil.

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