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RESTON, Va.-Nextel Communications Inc. announced it has completed a private placement of $1 billion of its 5.25-percent convertible senior notes due Jan. 15, 2010. The notes are convertible at the option of the holders, prior to redemption of maturity, into the company’s common stock at a conversion price of $148.80 per share.
Nextel intends to use the net proceeds of the offering to fund strategic investments, capital expenditures, working capital needs and for other general corporate purposes.
