NII Holdings investor converts $40 million 3.5% notes for 1.5 million shares, $4.4 million cash

By Jennifer Chiou

New York, June 10 - NII Holdings, Inc. converted $40 million of its 3.5% notes into 1.5 million shares of its common stock plus $4.4 million as a cash incentive in an agreement with a bondholder, according to an 8-K filing with the Securities and Exchange Commission.

The convertible notes due 2033 were originally issued in 2003.

Reston, Va.-based NII Holdings provides digital wireless communications services in Latin America.

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