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Technology Stocks : Ciena (CIEN)

CIEN 201.51

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Nov 6 4:00 PM EST

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From: FJB	11/26/2009 8:26:30 AM
	of 12623

Clearwire’s Recent Financing Spree Jumps To $2.8 Billion With Additional Debt Clearwire (NSDQ: CLWR) said today that it has raised an additional $920 million in debt financing, adding to its war chest of cash that the company has raised over the past few weeks. Release. In total, the company has recently raised $2.8 billion, which should be enough to put to rest some concerns that the company does not have enough capital to full fill its near-term plans. The funds now exceed the amount Clearwire previously said was needed to roll out high-speed wireless services to 120 million people by the end of 2010. Here’s how the $2.8 billion breaks down: —$1.564 billion came from strategic investors. —$1.85 billion was raised in a bond offering, however, the proceeds were used to pay off existing debt of $1.4 billion. So the balance was about $360 million. —$920 million was raised today in debt for a total of $2.8 billion. The senior secured notes are due 2015 at an issue price of 97.9 percent. Separate from the most recent fund-raising activities, Clearwire will still have the opportunity to secure additional funding of up to $295 million in the rights offering to public shareholders.

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