Nextel International starts roadshow for $400 million 6.5-year notes

By Paul A. Harris

Portland, Ore., Feb. 5 - NII International Telecom SCA began a roadshow on Tuesday for a $400 million offering of 6.5-year senior notes, according to a market source.

The deal is set to price later in the present week.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the joint bookrunners.

Citigroup Global Markets Inc., HSBC Securities (USA) LLC and Banco Santander are the co-managers.

The Rule 144A and Regulation S with registration rights notes, which are structurally superior to the issuer's existing bonds, come with 3.5 years of call protection.

Mid-to-high single B credit ratings are expected.

The Reston, Va.-based wireless communications services provider plans to use the proceeds for general corporate purposes.

NII International Telecom SCA is a wholly owned subsidiary of NII Holdings, Inc., formerly Nextel International.

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