RESTON, Va.-Nextel Communications Inc. continued to take advantage of its rapidly improving cash position by announcing plans to redeem all of its 10.65-percent senior redeemable discount notes due 2007, which the carrier noted included approximately $257 million in principal amount outstanding following completion of a cash tender offering for the notes completed Aug. 13.
Nextel said the redemption was being made pursuant to terms of the notes, which are redeemable at the carrier’s option at a price equal to 102.663 percent of the outstanding principal amount plus unpaid interest. The redemption date is scheduled for Sept. 15.
