Exhibit 99.1
PRESS RELEASE
NII Holdings, Inc.
10700 Parkridge Blvd., Suite 600
Reston, Va. 20191
(703) 390-5100
http://www.nii.com
10700 Parkridge Blvd., Suite 600
Reston, Va. 20191
(703) 390-5100
http://www.nii.com
Contacts:
Investor Relations:Tim Perrott
(703) 390-5113
tim.perrott@nii.com
(703) 390-5113
tim.perrott@nii.com
Media Relations:Claudia E. Restrepo
(786) 251-7020
claudia.restrepo@nii.com
(786) 251-7020
claudia.restrepo@nii.com
NII Holdings Announces Final Results of Tender Offer
for the Conversion of its 2 7/8% Convertible Notes due 2034
for the Conversion of its 2 7/8% Convertible Notes due 2034
RESTON, Va. —July 25, 2007— NII Holdings, Inc. (Nasdaq: NIHD) (the “Company”) announced today the final results of its tender offer (the “Offer”) with respect to its 2 7/8% Convertible Notes due 2034 (the “Notes”) in which it offered to pay a cash premium of $85.00, plus accrued and unpaid interest up to (but not including) the conversion date, for each $1,000 principal amount of Notes validly tendered and accepted for conversion into shares of the Company’s common stock pursuant to the terms of the Notes and subject to the conditions in the Offering Circular, dated June 22, 2007, the related Letter of Transmittal and the Supplement No. 1 to the Offering Circular, dated July 9, 2007. The Offer expired at 5:00 p.m., New York City time, on July 23, 2007 (the “Expiration Date”).
As of the Expiration Date, $299,955,000 aggregate principal amount of the Notes, or 99.9% of the issued and outstanding Notes, were validly tendered for conversion. In accordance with the terms of the Offer, the Company has accepted for conversion all such validly tendered Notes and has issued 11,268,103 shares of the Company’s common stock and paid in cash an aggregate cash premium of approximately $25.5 million and approximately $4.2 million in accrued and unpaid interest to the holders of the tendered Notes. This transaction eliminates approximately $300.0 million of the Company’s long-term debt and approximately $8.6 million in annual interest expense. The Company’s fully diluted share count remains unaffected by this transaction. The Company’s issuance of the shares of common stock upon conversion of the validly tendered Notes in connection with the Offer was made pursuant to the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended.
About NII Holdings, Inc.
NII Holdings, Inc., a publicly held company based in Reston, Va., is a leading provider of mobile communications for business customers in Latin America. NII Holdings, Inc. has operations in Mexico, Brazil, Argentina, Peru and Chile offering a fully integrated wireless communications tool with digital cellular voice services, data services, wireless Internet access and Nextel Direct Connect® and International Direct Connect™, a digital two-way radio feature. NII Holdings, Inc., a Fortune 1000 company, trades on the NASDAQ market under the symbol NIHD and is a member of the NASDAQ 100 Index. Visit the Company’s website at <http://www.nii.com>.
Nextel, the Nextel logo, Nextel Online, Nextel Business Networks and Nextel Direct Connect are trademarks and/or service marks of Nextel Communications, Inc.
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