Leap to sell $285M in notes to support expansion

Leap Wireless International Inc. said that it intends to sell $285 million in senior notes in a private placement to institutional buyers.
The flat-rate carrier said that net proceeds from the offering would be used for general corporate purposes, including the build-out of new markets.
Leap recently launched service in Charleston, S.C. According to its Web site, the company expects to begin offering service in Rochester, N.Y. on June 5 and in portions of North Carolina on June 26.