Aug, 2001 : NextWave Receives $2.5 Billion Debt Financing

📅 August 22, 2001 - NextWave Telecom Inc. (nextwave.com) yesterday announcedthat UBS Warburg (ubswarburg.com) has committed to provide the company with $2.5 billion in debt financing to fund the construction of its nationwide 3G wireless network. UBS Warburg has also been engaged by NextWave to serve as the company's financial advisor and will assist the company in consummating its plan of reorganization.

NextWave will use the financing to support the deployment of itsthird-generation CDMA2000 wireless network. NextWave's nationwide networkwill provide broadband mobile data service at speeds of up to 2.4 megabitsper second and support a wide range of next-generation mobile applicationsincluding full web access, streaming video, high-fidelity audio downloads,multimedia messaging, and corporate VPN access.
On Aug. 6, NextWave filed and announced its plan of reorganization, which isnow pending before the Federal Bankruptcy Court of the Southern District ofNew York. Today's announcement is in connection with the equity and debtfinancing committed to fund NextWave's plan of reorganization, and issubject to various terms and conditions, and to NextWave's successfulconsummation of its plan of reorganization.

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