Telecom & Wireless
Leap Wireless Tapping Capital Markets (LEAP)
Published:
Last Updated:
Leap Wireless International Inc. (NASDAQ: LEAP) has a proposed $400 million offering of senior notes broken up int two groups of $200 million each this morning. Both tranches are unregistered as 144A placements.
One tranche is a total of $200 million of unsecured senior notes due 2015 with interest at a rate to be determined at pricing and will be guaranteed on a senior unsecured basis by Leap Wireless International, Inc. and certain of its indirect subsidiaries.
The other tranche is a total of $200 million in convertible senior notes due 2014 with interest rate, conversion rate, and other terms to be determined by negotiations among Leap and the initial purchasers of the notes.
Net proceeds are earmarked for working capital and other general corporate purposes, including the build-out of new markets, the expansion of Leap’s footprint in its existing markets and the development of its broadband initiative.
You can join our open email distribution list to hear about other mergers, IPO’s, secondary offerings, restructuring, and other special situations.
As of yesterday’s close at $54.65, Leap has a market cap listed as $3.77 Billion before any implied dilution.
Jon C. Ogg
June 19, 2008
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
