Clearwire Corp. (CLWR) said on Tuesday that Clearwire Escrow Corp., an unrestricted subsidiary of Clearwire Communications LLC, has priced a supplemental offering of an additional $920 million aggregate principal amount of 12% senior secured notes due 2015 at an issue price of 97.9%. This offering is in addition to the completion of offering of $1.852 billion aggregate principal amount of 12% senior secured notes due 2015.
The gross proceeds of the new debt offering would be placed in an escrow account until the consummation of the closing of the second phase of the $1.564 billion in new investment capital from Sprint Nextel Corp. (S), Comcast Corp. (CMCSJ.PK), Time Warner Cable Inc. (TWC), Intel Corp. (INTC), Eagle River Holdings, LLC and Bright House Networks, LLC.
As previously announced, Clearwire received about $1.057 billion in cash from the equity financing on November 13 and expects to receive an additional $440 million in cash at a second closing, which is targeted to be completed by year end 2009, and the remaining $66 million will be funded at a closing, which is targeted to be completed during first quarter 2010.
The sale of the new notes is expected to be consummated on or about December 9, 2009. Upon release of the escrow, Clearwire plans to use the proceeds for general corporate purposes.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.