Subject: [NEXTEL-1] Nextel Partners Boosts Note Offering to $150 Million

From: Marcel <[email-masked]>
Date: Thu, 08 May 2003 11:47:15 -0400

http://biz.yahoo.com/djus/030508/1009000917_1.html

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Nextel Partners Boosts Note Offering to $150 Million
Thursday May 8, 10:09 am ET

KIRKLAND, Wash. (Dow Jones)--Nextel Partners Inc. boosted its offering
of five-year convertible senior notes to $150 million, in addition to the $25
million overallotment option.
Earlier this week, the affiliate of wireless provider Nextel Communications
Inc. (NasdaqNM:NXTL - News) proposed to offer $100 million notes, plus a $25 million
overallotment option.

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In a press release Thursday, Nextel Partners said it plans to use the net
proceeds of the offering for general corporate purposes, including purchases of
currently outstanding debt obligations.
Last week, the company said it retired about $8 million of debt during the
first quarter and ended the period with $1.43 billion of long-term debt.
Nextel Partners expects to close the private placement of the senior unsecured
obligations on May 13.
The notes priced Wednesday with a 1.5% coupon and an initial conversion rate
of 131.9087 Class A common shares per $1,000 of notes. The conversion price of $
7.58 per share represents a 43% premium to Wednesday's close of $5.31.
Shortly after the opening bell Thursday, the stock dipped 18 cents, or 3.4%,
to $5.13 on Nasdaq volume of 651,500 shares, 93% of the average daily volume.
-Nora Devine; Dow Jones Newswires; 201-938-5400

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