Leap Wireless (NASDAQ:LEAP) announced its flat-rate operating subsidiary, Cricket Communications, has priced its offering of $400 million in senior notes, which the company said may be used to accelerated deployment of its LTE network and/or make opportunistic acquisitions.
The notes will be guaranteed on a senior unsecured basis by Leap and certain of its indirect subsidiaries.
Cricket plans to launch its first LTE markets in the second half of this year. The company's strategy is similar to competitor MetroPCS (NASDAQ:PCS), which has deployed LTE in 14 markets. Leap also signed an LTE roaming deal with wholesale LTE provider LightSquared in March. The deal will allow Leap's LTE subscribers to roam onto LightSquared's network, which is now scheduled to launch early next year.
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