Nextel Commun $300M 144a 10Y Sr Notes Yld 12.25%
Dow Jones Newswires
NEW YORK -- Nextel Communications Inc. (NXTL), a Mclean, Va.-based provider of of digital and analog wireless communication services, priced $300 million of senior notes in the Rule 144a market via lead manager Morgan Stanley Dean Witter, according to BondData-Corporate Service.
Terms are as follows:
Amount: $300 million
Maturity: Nov. 1, 2008
Coupon: 12%
Issue Price: 98.578
Yield: 12.25%
Spread: 765 basis points
Settlement: Nov. 4, 1998 (flat)
Call Date: Noncallable for 5 years, then at 106,
104.80, 103.60, 102.40, 101.20, par
Debt Rating(s): B2 (Moody's)
CCC+ (Standard & Poor's)
The issue includes a three-year equity call for 35% of the issue at 112.0.
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