The gross proceeds of this new debt offering will be placed in an escrow account until the consummation of the closing of the second phase of the US$1.564 billion in new investment capital from Sprint Nextel Corporation, Comcast Corporation, Time Warner Cable Inc., Intel Corporation, Eagle River Holdings, LLC and Bright House Networks, LLC. As previously announced, Clearwire received approximately US$1.057 billion in cash from the equity financing on November 13, 2009 and expects to receive an additional US$440 million in cash at a second closing, which is targeted to be completed by year end 2009, and the remaining US$66 million will be funded at a closing, which is targeted to be completed during first quarter 2010.
Satnews Daily
December 1st, 2009
digiGO! — The Digital (R)Evolution™ — Clearwire Corporation... Financially Speaking...
digiGO! — The Digital (R)Evolution™ — Clearwire Corporation... Financially Speaking...
Clearwire Corporation (NASDAQ: CLWR) announced Clearwire Escrow Corporation, an unrestricted subsidiary of Clearwire Communications LLC, has priced a supplemental offering of an additional US$920,000,000 aggregate principal amount of 12 percent senior secured notes due 2015 at an issue price of 97.9 percent (the “Notes”). This offering is in addition to the completion of an offering on November 24th of US$1,852,494,000 aggregate principal amount of 12 percent senior secured notes due 2015.
The gross proceeds of this new debt offering will be placed in an escrow account until the consummation of the closing of the second phase of the US$1.564 billion in new investment capital from Sprint Nextel Corporation, Comcast Corporation, Time Warner Cable Inc., Intel Corporation, Eagle River Holdings, LLC and Bright House Networks, LLC. As previously announced, Clearwire received approximately US$1.057 billion in cash from the equity financing on November 13, 2009 and expects to receive an additional US$440 million in cash at a second closing, which is targeted to be completed by year end 2009, and the remaining US$66 million will be funded at a closing, which is targeted to be completed during first quarter 2010.
The gross proceeds of this new debt offering will be placed in an escrow account until the consummation of the closing of the second phase of the US$1.564 billion in new investment capital from Sprint Nextel Corporation, Comcast Corporation, Time Warner Cable Inc., Intel Corporation, Eagle River Holdings, LLC and Bright House Networks, LLC. As previously announced, Clearwire received approximately US$1.057 billion in cash from the equity financing on November 13, 2009 and expects to receive an additional US$440 million in cash at a second closing, which is targeted to be completed by year end 2009, and the remaining US$66 million will be funded at a closing, which is targeted to be completed during first quarter 2010.