Subject: [NEXTEL-1] Nextel Will Redeem $500 Million

From: [email-masked]
Date: Wed, 24 Sep 2003 17:01:38 -0400

Nextel Will Redeem $500 Million in Principal Amount of Its 9.95% Senior Serial
Redeemable Discount Notes Due 2008; Step is Taken to Further Strengthen Balance
Sheet 

RESTON, Va.--(BUSINESS WIRE)--Sept. 24, 2003--Nextel Communications
Inc. (NASDAQ:NXTL - News) announced today it will redeem $500 million
in principal amount of its 9.95% Senior Serial Redeemable Discount
Notes due 2008. About $1,293 million in principal amount of the 9.95%
notes were outstanding as of June 30, 2003.

The redemption of the 9.95% notes is being made pursuant to the terms
of the notes. The notes are redeemable at Nextel's option at a
redemption price equal to 104.975% of the $500 million in principal
amount being redeemed plus an amount equal to the accrued but unpaid
interest related to the principal amount being redeemed. The trustee
for the notes has informed Nextel that it will redeem a portion of all
outstanding notes pro rata based on the principal amount of each
outstanding note. The redemption date for the 9.95% notes has been set
for October 24, 2003.

http://home.businesswire.com/portal/site/home/index.jsp?epi-content=GENERIC&epi-process=generic_process.jsp&newsId=20030924005732&headlineSearchConfigBO=1064401200000%201064462304000%20%20groupByDate%20%201%209999%20200487600000%20nextel%20%20%20%20%20%20%20%20%20false%20false%20&newsPopup=false&newsLang=en&beanID=202776713&viewID=news_process_view

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