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NEWS RELEASE
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NEXTEL
INTERNATIONAL. INC.
FOR IMMEDIATE RELEASE
NEXTEL INTERNATIONAL ANNOUNCES $650 MILLION NOTES OFFERING
RESTON, Va., July 27, 2000 - Nextel International, Inc., announced today that it
has entered into an agreement providing for the issuance of $650 million of its
12 3/4% Senior Serial Notes due August 1, 2010 in a private placement which are
to be sold at a discount of 98.622% of their aggregate principal amount to
produce a yield to stated maturity of 13.0%. Upon closing, Nextel International
intends to use the net proceeds to finance network expansion, acquisitions of
additional spectrum, working capital needs, debt service requirements and/or for
other general corporate purposes.
The securities offered have not been and will not be registered under the
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from registration requirements.
This news release shall not constitute an offer to sell or the solicitation of
an offer to buy theses securities, nor shall there be any sale of these
securities in any jurisdiction where such offer, solicitation or jurisdiction
would be unlawful prior to registration or qualification under the securities
laws of such state. The statements in this news release regarding future
aspects relating to the proposed offering and other statements which are not
historical facts are forward-looking statements that involve risks and
uncertainties, including, but not limited to, market conditions and the price
and market for the notes proposed to be offered.
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