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Leap's Cricket Communications plans $1.1 billion senior secured notes
New York, May 27 - Leap Wireless International, Inc. said it plans to sell $1.1 billion of senior secured notes due 2016 to be issued through its Cricket Communications, Inc. operating subsidiary.
The debt will be sold under Rule 144A and Regulation S.
Proceeds will be used to repay Leap's senior secured credit agreement. Leap will terminate the revolver.
Any fund left over will be used for general corporate purposes.
No further information was available at press time on the deal, which was announced well after the markets closed.
Leap is a San Diego-based wireless services provider.
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