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NII Holdings misses interest payment

2014-08-18 09:10:00| Telecompaper Headlines

(Telecompaper) NII Holdings announced that is has elected not to pay USD 118.8 million in interest due 15 August on senior notes issued by its subsidiaries NII Capital Corp and NII International Telecom SCA. There is still a 30-day grace period during which the company may elect to make the interest payments and cure any potential non-payment claims. NII, which operates under the brand Nextel, said it was still in talks with holders of its senior notes on a possible restructuring of the debt. 

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