SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 16, 1997 (July 11, 1997)
NEXTEL COMMUNICATIONS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-19656 36-3939651
(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
1505 Farm Credit Drive, Suite 100, McLean, Virginia 22102
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (703) 394-3000
(Former name or former address, if changed since last report)
Item 5. Other Events.
Additional Bank Financing Commitment
Nextel Finance Company ("NFC"), a wholly owned subsidiary of Nextel
Communications, Inc. ("Nextel") has reached an agreement dated July 11,
1997 with Barclays Bank PLC, The Chase Manhattan Bank, Morgan Guaranty Trust
Company of New York, NationsBank of Texas, N.A. and the Toronto-Dominion Bank
with respect to an additional credit facility in the amount of $250 million (the
"Additional Bank Borrowings") on terms described in the commitment letter (and
the Summary of Terms and Conditions attached as Exhibit A thereto) attached to
this Current Report as Exhibit 99.1, which information is incorporated herein by
reference. The Additional Bank Borrowings will be additional secured borrowings
pursuant to NFC's existing secured bank credit facility, which became effective
on September 30, 1996 (the "Bank Credit Facility'). NFC's access to the
Additional Bank Borrowings is subject to the receipt of certain required
consents and approvals of third parties, to the negotiation of definitive
agreements and the satisfaction of certain conditions including the receipt of
net cash proceeds from equity issuances sufficient to to permit the incurrence
of the Additional Bank Borrowings pursuant to the terms of the Indentures
relating to Nextel's five outstanding issues of Senior Redeemable Discount
Notes. NFC and the lenders contemplate negotiating and entering into appropriate
definitive agreements implementing the terms of the financing arrangements as
described above, and Nextel is now or shortly will commence seeking the
remaining consents and approvals required to gain access to the Additional Bank
Borrowings. There can be no assurance that Nextel will be able to reach
definitive agreements with, or obtain all necessary consents of, third parties
to allow Nextel to access the Additional Bank Borrowings, or, if such agreements
are reached, that the terms of such financing will be as contemplated in Exhibit
99.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(A) Financial Statements of Business Acquired.
Not applicable.
(B) Pro Forma Financial Information.
Not applicable.
(C) Exhibits
Exhibit No. Exhibit Description
99.1 Nextel Finance Company Tranche E Commitment Letter,
dated July 11, 1997, with related Summary of Terms and
Conditions
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NEXTEL COMMUNICATIONS, INC.
Date: July 16, 1997 By: /s/Thomas J. Sidman
Thomas J. Sidman
Vice President and General Counsel
Exhibit No. Exhibit Description
99.1 Nextel Finance Company Tranche E Commitment Letter,
dated July 11, 1997, with related Summary of Terms and
Conditions