RESTON, Va.-Nextel Communications Inc. said both chief executive officer Tim Donahue and chief financial officer Paul Saleh certified the accuracy of the company’s recent Securities and Exchange Commission filing as required by the new SEC order impacting the nation’s largest 950 publicly traded companies.
In addition, Nextel said it has retired an additional $733 million in debt and preferred securities since June 30 in exchange for 33 million common shares and $205 million in cash. For the year, Nextel has now retired $1.83 billion in debt and preferred securities.
“Nextel continues to opportunistically improve its balance sheet while we pursue smart growth,” Donahue said. “So far in the third quarter, indications are that our subscriber growth will be consistent with recent quarters while our cash flow is trending upwards.”
