SAN DIEGO-NextWave Wireless L.L.C. plans to redeem $148.5 million of non-recourse secured notes that were issued in April 2005 by former equity holders NextWave Telecom Inc. as part of NextWave’s reorganization.
The notes will be redeemed at more than 103.5 percent of their face value and will be funded from proceeds originally placed into escrow in connection with the sale of NextWave Telecom to Verizon Wireless in April 2005.
NextWave develops mobile broadband and multimedia products, including WiMAX chips, network components and device reference designs. The company’s PacketVideo subsidiary provides embedded multimedia software for cell phones and other mobile devices.
NextWave Wireless L.L.C. is a subsidiary of NextWave Wireless Inc.
NextWave redeems notes
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