Leap Wireless International, Inc. LEAP today announced that its operating subsidiary, Cricket Communications, Inc., intends to commence an offering, subject to market and other conditions, of $400 million in aggregate principal amount of additional 7.75% senior notes due 2020 to be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended.
The Notes will be guaranteed by Leap and certain of its indirect subsidiaries. Cricket intends to use the proceeds of this offering, after the payment of fees and expenses, for working capital and other general corporate purposes, which may include accelerated deployment of next-generation LTE network technology and/or opportunistic acquisitions.
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