LatAm-focused NII Holdings plans to offer US$500m six-year senior notes.
The US-based operator will use the proceeds from the offering to repay its Mexican bank loan and part of one of its Brazilian bank loans.
NII last hit the debt markets in April…
LatAm-focused NII Holdings plans to offer US$500m six-year senior notes.
The US-based operator will use the proceeds from the offering to repay its Mexican bank loan and part of one of its Brazilian bank loans.
NII last hit the debt markets in April when it raised US$150m, re-tapping a high-yield series first issued in February. It has raised a total of US$900m on those terms this year, maturing 2019.
It is not clear whether the latest offering, also due in 2019, will be on the same conditions as this year’s previous issuances.
Earlier this month NII appointed interim CEO Steve Shindler to the position permanently.
It is currently in the middle of a strategic turnaround as it looks to exit three of the five markets it operates in. NII has said it wants to focus on Brazil and Mexico. It has agreed to sell its Nextel Peru business to Entel and its Chilean and Argentine units are also up for sale. Meanwhile the operator is also pursuing sale and leaseback deals for its Brazilian and Mexican towers.
