By Ronda Fears
Nashville, July 30 - Nextel Partners Inc. sold a $175 million offering of 5.25-year convertible notes at par to yield 1.5% with a 31% initial conversion premium, via lead manager Wachovia.
The company said proceeds will be used for general corporate purposes, including but not limited to general working capital and opportunistic repurchases of outstanding notes.
Terms of the new deal are:
Issuer: Nextel Partners Inc.
| Issue: | Convertible senior notes
|
| Lead manager: | | Wachovia
|
| Co-manager: | Credit Suisse First Boston
|
| Amount | $125 million
|
| Greenshoe: | $25 million
|
| Maturity: | Nov. 15, 2008
|
| Coupon: | 1.5%
|
| Price: | Par
|
| Yield: | 1.5%
|
| Conversion premium: | 31%
|
| Conversion price: | $12.77
|
| Conversion ratio: | 78.3085
|
| Pricing date: | July 30, before the open
|
| Settlement: | Aug. 6
|
| Distribution: | Rule 144A
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