US WiMAX wholesaler Clearwire is planning to make an offering of US$300m of senior secured notes.
In a statement, Clearwire said that the notes would be guaranteed on a first-priority lien basis by some of its subsidiaries.
The lead bookrunner for the…
US WiMAX wholesaler Clearwire is planning to make an offering of US$300m of senior secured notes.
In a statement, Clearwire said that the notes would be guaranteed on a first-priority lien basis by some of its subsidiaries.
The lead bookrunner for the offering is JP Morgan. Jefferies and Bank of America are bookrunners.
The offering is to be made by Clearwire Communications, the operating subsidiary of Clearwire Corporation.
Mobile operator Sprint Nextel holds a stake of 54% in Clearwire.
The news today comes after a series of financing headlines from Clearwire late last year.
On 1 December, Clearwire announced that it had agreed with Sprint that the mobile operator would pay it US$926m for access to Clearwire’s WiMAX network in 2012 and 2013 and up to US$350m to support the development of Clearwire’s LTE network.
Later in the month, Clearwire announced a public offering of shares and a separate private transaction in which Sprint bought shares in the company. The total net new capital for Clearwire as a result of these transactions was US$715.5m.
