Nextel Mexico gets $296.9 million amended and restated facility

By Sara Rosenberg

New York, June 30 - Nextel Mexico closed on a $296.9 million amended and restated credit facility, according to an 8-K filed with the Securities and Exchange Commission Friday.

Citigroup acted as bookrunner, joint lead arranger and administrative agent, Scotiabank Inverlat acted as bookrunner and syndication agent, and ABN Amro acted as bookrunner and documentation agent.

Through the amendment and restatement, the company increased its facility size by about $60 million, reduced the interest rates by 112 basis points, extended the maturity of the tranche A loans to five years from four years and removed non-cash items from EBITDA calculations.

The amendment and restatement was completed on June 27.

Nextel Mexico is the Mexican subsidiary of NII Holdings Inc., a Reston, Va.-based wireless communications company.

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