JPMorgan Sells $920M In Senior Notes for Clearwire
November 25, 2009
JPMorgan has sold $920 million in 12% senior notes due 2015 for Clearwire Corp., a Milton, Fla.-based wireless carrier. The price at issue was 97.75.
JPMorgan earlier this week boosted the size of the offering to $920 million from $540 million due to strong demand.
Clearwire will use the proceeds from the bonds, along with a $1.56 billion equity investment from a group of investors led by wireless carrier Sprint Nextel, to expand its high-speed network.
The notes were rated Caa1 by Moody’s Investors Service and B- by Standard & Poor’s.
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