Nextel to redeem $823M in notes

RESTON, Va.-Nextel Communications Inc. said it will redeem all of its outstanding 9.375-percent senior serial redeemable notes due 2009 that currently total about $823 million in principal amount of notes. The carrier noted the redemption date for the notes will be Nov. 15, and it will be funded using available cash resources at a redemption price equal to 104.688 percent of the principal amount plus unpaid interest.