Clearwire redeems 11% notes via term loan drawdown

By Jennifer Chiou

New York, Aug. 15 - Clearwire Corp. redeemed its 11% senior notes due 2010 using the $620.7 million drawdown under its $1 billion senior term loan facility, according to an 8-K filing with the Securities and Exchange Commission.

The Kirkland, Wash., provider of wireless broadband services and equipment paid a redemption price of 102.5% plus accrued interest to the redemption date and the remaining portion of the interest escrow.

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