Subject: [NEXTEL-1] Nextel Closes Sale of Notes

From: [email-masked]
Date: Thu, 31 Jul 2003 23:45:50 -0400

http://biz.yahoo.com/bw/030731/315559_1.html
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Press Release

Source:
Nextel Communications Inc.

Nextel Closes Sale of Notes
Thursday July 31, 3:03 pm ET

RESTON, Va.--(BUSINESS WIRE)--July 31, 2003--Nextel Communications
Inc. (NASDAQ:NXTL - News), today announced that it has completed the sale of
$1 billion in principal amount of its 7.375% Senior Serial Redeemable
Notes due 2015 in a public offering. Nextel received about $983
million in net proceeds from the offering.

The Company expects to use the net proceeds from the offering,
together with cash on hand, to redeem all outstanding shares of the
Company's 11.125% Series E exchangeable preferred stock and to fund
the repurchase, through a tender offer and/or redemption, of the
Company's outstanding 10.65% Senior Redeemable Discount Notes due
2007.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state.

Nextel Communications, a Fortune 300 company based in Reston, Va.,
provides fully integrated wireless communications services across the
United States through its all-digital wireless network.

Contact:

Nextel Communications Inc., Reston
Media:
Audrey Schaefer, 240-876-1588
or
Investors:
Paul Blalock, 703-433-4300

Source:
Nextel Communications Inc.
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