Clearwire Communications to buy back $100 million 8.25% exchangeables

By Marisa Wong

Madison, Wis., March 15 - Clearwire Corp.'s subsidiary, Clearwire Communications LLC, will repurchase $100 million of its 8.25% exchangeable notes due 2040, according to an 8-K filing with the Securities and Exchange Commission.

Clearwire Communications plans to fund the repurchase with proceeds from a sale of Clearwire class A common stock.

The exchangeable notes will be purchased for a total price equal to the aggregate purchase price of the class A common shares, which is $83.5 million.

The subsidiary will also pay accrued interest to but excluding March 22.

Clearwire is a Bellevue, Wash.-based mobile broadband services provider.

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