Leap Wireless Tenders for Its Convertible Notes

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Leap Wireless has launched an offer for its convertible notes maturing next year. The company is offering $1,005 in cash for each $1,000 in principal value of the notes, plus accrued and unpaid interest. The offer is subject to certain conditions, including one that specifies company unit Cricket Communications "shall have consummated the borrowing of term loans under its delayed-draw incremental term loan facility."

This offer expires at midnight, Eastern time, on April 22.

All told, the issue has an aggregate principal amount of $250 million. The notes carry an interest rate of 4.50%. Leap's tender offer covers the entire issue.


Deutsche Bank's eponymous Securities unit is the dealer manager in the tender.

The article Leap Wireless Tenders for Its Convertible Notes originally appeared on Fool.com.

Fool contributor Eric Volkman and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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