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NII Holdings Announces Pricing Of Senior Notes Offering

RESTON, Va., May 16, 2013 /PRNewswire/ -- NII Holdings, Inc. (NASDAQ: NIHD) today announced the pricing of the offering, through its wholly owned subsidiary NII International Telecom S.C.A., of $700 million principal amount of 7.875% Senior Notes due August 15, 2019.  The issue price is 100% of the principal amount of the notes.  The size of the offering was increased from the previously announced $500 million to $700 million. The notes were offered in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended.  The sale of the notes is expected to close on or about May 23, 2013. The notes will be issued by NII International Telecom S.C.A., a partnership limited by shares organized and established under the laws of Luxembourg, and guaranteed by NII Holdings.  

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NII intends to use the net proceeds from the notes offering to fund the payment in full of its Mexico bank loan and one of its Brazil bank loans, and the remaining net proceeds to repay or repurchase other Brazil loans that are immaterial in amount.

The notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration under, or an applicable exemption from, the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

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