Cricket Communications to repay bridge loan with bond proceeds

By Sara Rosenberg

New York, Oct. 10 - Cricket Communications Inc. plans on repaying its bridge loan using proceeds from a proposed $750 million unsecured senior notes offering, according to a company news release.

Remaining proceeds from the bonds will be used for general corporate purposes.

The bridge loan to be repaid will be incurred to pay the final balance owed to the Federal Communications Commission for licenses won in Auction #66 and to finance build-out and initial operating costs of such licenses.

Cricket Communications is the wholly owned operating subsidiary of Leap Wireless International Inc., a San Diego, Calif., mobile wireless services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.