Nextlink Plans To Sell $160 Million In Stock

Nextlink Communications Inc. will sell $160 million in stock and $200 million in notes to the public, the Bellevue-based company announced Thursday.

The offerings are the first by Nextlink, which provides telecommunications services in 23 markets in seven western states.

The company celebrated the one-year anniversary of the launch of its Spokane network Thursday with tours of its switching facility downtown on South Stevens.

The switch has handled 23 million calls in the last year, officials said.

Nextlink, founded in 1994 by communications mogul Craig McCaw, will sell the stock through an underwriting team led by Salomon Brothers Inc. Other participants are Merrill Lynch & Co., Bear Stearns & Co. and Lazard Freres & Co. LLC.

The notes will be sold through Salomon Merrill Lynch, Bear Stearns and TD Securities.

An over-allotment option of $24 million of stock has been guaranteed to the underwriters.

The senior notes will be due in 2007. , DataTimes