NII Holdings offers to buy $103.1 million 4.25% convertibles

By Marisa Wong

Los Angeles, Feb. 5 – NII Holdings, Inc. announced a cash tender offer to purchase up to $103.1 million of its $113 million outstanding 4.25% convertible senior notes due 2023.

The company is offering to pay $1,075 per $1,000 principal amount of notes plus accrued interest from the last interest payment date to but excluding the payment date.

The offer will expire at 11:59 p.m. ET on March 4.

Notes may be subject to proration if the amount tendered exceeds the offer cap.

The offer is not conditioned on any minimum amount of notes being tendered.

The company said it intends to redeem any notes that remain outstanding after the tender offer at par.

J.P. Morgan Securities LLC (800 261-5767) is the dealer manager for the tender offer. D.F. King & Co., Inc. (866 796-1290, 212 269-5550 or nii@dfking.com) is the tender agent.

NII Holdings is a Reston, Va.-based provider of mobile communications services in Brazil under the Nextel brand.

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