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Leap Wireless tenders for $250 million 4.5% convertible notes due 2014
By Susanna Moon
Chicago, March 26 - Leap Wireless International, Inc. said it began a cash tender offer for its $250 million principal amount of outstanding 4.5% convertible senior notes due 2014.
The purchase price will be $1,005 per $1,000 principal amount of notes plus accrued interest, according to a company press release.
The tender offer will end at midnight ET on April 22, and tendered notes may be withdrawn at any time before the offer ends.
The tender offer is conditioned on Cricket Communications, Inc., a wholly owned subsidiary of Leap, closing term loans under its delayed-draw incremental term loan facility, the release noted.
Deutsche Bank Securities Inc. (800 503-4611) is the dealer manager. D.F. King & Co., Inc. (800 659-5550 or 212 269-5550) is the information agent and tender agent.
Leap is a San Diego-based provider of digital wireless services.
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