NII HOLDINGS, INC. (NASDAQ:NIHD) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.Entry into a Material Definitive Agreement.
As previously disclosed by NII Holdings, Inc. (the “Company”) on a Current Report on Form 8-K filed with the Securities and Exchange Commission on August 15, 2017, the Company obtained from the China Development Bank waivers (the “Waivers”) of certain covenants described in Sections 5.25 (Incremental Indebtedness and Subordinated Restricted Intercompany Indebtedness) and 5.1(l) (Financial Statements and Other Information) of loan agreements between the Company’s Brazilian operating company, NextelTelecomunicações Ltda., and the China Development Bank on August 14, 2017. Also as previously disclosed, the effectiveness of the Waivers was subject to the China Development Bank’s receipt of an executed letter from the China Export and Credit Insurance Corporation (“Sinosure”) confirming that Sinosure agrees to the granting of the Waivers.
On September 12, 2017, the China Development Bank received the aforementioned letter from Sinosure confirming its agreement with the granting of the Waivers. In connection with the foregoing and being that all other conditions to the Waivers becoming effective have been met by the Company, the Waivers became effective on September 12, 2017.
