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NII Capital To Sell $500 Million In 10-Year Bonds

By Katy Burne Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- NII Capital Corp., a funding arm of mobile communications company NII Holdings Inc., is marketing a $500 million offering of 10-year senior unsecured notes, according to a regulatory filing. The notes will be guaranteed by NII Holdings Inc. and proceeds are expected to be used for general corporate purposes, including expanding its network through capital expenditures or acquisitions, buying licenses, deploying new network technologies or refinancing existing debt. Leading the sale are Goldman Sachs & Co., Credit Suisse, Deutsche Bank Securities, J.P. Morgan and Morgan Stanley. The notes, which have been rated B+ by Standard & Poor's, will be non-callable by the issuer for five years. Moody's Investors Service hasn't yet assigned a rating. The deal is expected to price Friday. NII Holdings focuses on customers in Latin American markets, particularly in Argentina, Brazil, Mexico, Peru and Chile, but is headquartered in Reston, Virginia. -By Katy Burne, Dow Jones Newswires; 212-416-3084; katy.burne@dowjones.com

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