Leap's $400M debt offering could accelerate LTE buildout

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.

For more:
- see this release

Related articles:
Leap to hold off on LTE devices until 2012
LightSquared inks wholesale LTE deal with Leap Wireless
Leap Wireless investor slams management, calls for board shakeup
Leap outlines tactics to address capacity-stretching data traffic
Leap's net loss widens in Q4
Leap returns to subscriber growth in Q4
Leap CEO: We plan LTE 'hotspots' next year 

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