LatAm-focused NII Holdings has priced US$750m of high-yield senior notes maturing in 2019.
The paper priced at 100% of its principal amount and has an 11.375% interest rate.
US-based NII announced a US$400m issuance last week, subsequently upsizing…
LatAm-focused NII Holdings has priced US$750m of high-yield senior notes maturing in 2019.
The paper priced at 100% of its principal amount and has an 11.375% interest rate.
US-based NII announced a US$400m issuance last week, subsequently upsizing it.
NII previously said it could use the notes to expand its network, buy spectrum or other assets; aid the deployment of new network technologies; or refinancing and/or settle outstanding indebtedness.
NII has operations in Brazil, Mexico, Argentina, Peru and Chile. It operates under the Nextel brand and has a focus on business customers.
Last week the company released its preliminary results for 2012 and said it expects to achieve revenues of US$6.1bn. The telco’s projections for 2013 see revenue falling to between US$5.7bn and US$5.9bn.
In the same statement NII said it is exploring strategic options for its businesses in Argentina, Chile and Peru and expects to offload towers in Brazil and Mexico during 2013.
It is looking at partnerships, service arrangements and asset sales to maximize the value of the Argentinean, Chilean and Peruvian operations and generate additional liquidity.
In Brazil and Mexico it is working on a sale and leaseback of 4,500 of its towers. NII is looking at offers from a number of parties and expects to complete the disposals during the course of 2013.
