From staff and Fierce Wireless
Clearwire said that it raised, through a subsidiary, an additional $920 million in debt financing. The move gives the the company another financial lift as it seeks to continue aggressively building out its mobile WiMAX network.
The new debt financing, through a pricing of 12 percent secured notes due in 2015, means that the company has raised a total of around $2.8 billion through debt and equity financing during the past few weeks.
In addition to the $920 million, Clearwire confirmed earlier this month it will raise around $1.56 billion in new equity financing from strategic investors, including Sprint Nextel.
Sprint is the majority owner in Clearwire.
Clearwire also recently had a debt offering of $1.85 billion in senior notes, which was used to pay off an existing $1.4 billion credit facility.
Earlier this year, the company said it needed between $2 billion and $2.3 billion to carry out its plan of having 120 million POPs covered under its mobile WiMAX network by the end of 2010.
For the entire story, click here.