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Technology Stocks : NEXTEL -- Ignore unavailable to you. Want to Upgrade?

To: TheMotoMan who wrote (8116)	10/28/1998 6:14:00 PM
From: Bernie Diamond	Read Replies (2) \| Respond to of 10227

MotoMan: Yes re the ~$800 mil (bank credit facility) + ~$150 mil. in additional commitments (about to be finalized ~10/15). In addition an incremental $225 mil for NI (total $400 mil). Also tower and partners deal by end of 98, and expected OCF throwoff of $600-$800 mil in FY 99. At the CC, Shindler did state, "Well aware of state of financial markets and our level of spending...Taking steps to prioritize spendings and prudently pace ongoing construction schedule. Will adjust spending to available resources and continue to pursue reasonable sources of alternative funding. At the Annual Conference DA talked about getting ~$3 billion in a bank credit facility, at under 10% interest, and it remained to be seen if it was a wise move. Don't forget, in May interest rates were dropping and we were still in a cinderella economy. It turns out that he was a genius (or lucky) about the advance financing he put in place. We don't know exactly what mgmt is planning (in fact we know nothing <ggg>), but Akerson did state he would provide guidance to analysts before year's end. The $1.2-$1.4 billion estimate was being refined - about 1/2 done. He never stated that, "a bond offering was currently unavailable due to market conditions." In fact, if there were no change in capex spending, we probably have enough funds through mid-99. N cannot stop trying to get additional reasonable financing. It would be dumb to wait until mid-99 to "get the rest of the 99 finances." BerniE NEXTEL x,xxx