NII Holdings investor converts $48.478 million 3.5% notes for stock, cash incentive

By Jennifer Chiou

New York, June 21 - NII Holdings, Inc. announced it converted Monday $48.478 million of 3.5% convertible notes due 2033 into 1,817,925 common shares in an agreement with an investor, according to an 8-K filing with the Securities and Exchange Commission.

As an incentive, NII Holdings made a $5.4 million cash payment to the holder.

The Reston, Va.-based company provides digital wireless communications services in Latin America.

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