Clearwire secures another $920 million to deploy WiMax networks

USA based WiMAX network operator, Clearwire has announced plans to top up its recent fundraising efforts with a further US$920 million in debt. In aggregate, the company has managed to raise nearly US$2.8 billion in just the past few weeks.

“Today, we are proud to have secured an additional $920 million in debt financing, which, when coupled with the $1.56 billion of recently announced equity financing and the $1.85 billion of debt financing that we closed on today, demonstrates our ability to access the capital markets on attractive terms and in sufficient size to meet our needs, while at the same time prudently balancing equity dilution with the cost of capital,” said Bill Morrow, CEO of Clearwire.

“With this latest tranche of additional funding, we have not only exceeded the amount of capital that we have previously stated we needed to fully fund our business plan, but we have also secured additional capital that will allow us to expand more aggressively by covering more people, and with more capacity than we had previously planned.”

Via: Cellular News, Clearwire.

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