"NII HOLDINGS ELECTS NOT TO PAY $118.8M IN INTEREST DUE" $NIHD

"NII Holdings, Inc. announced today that is has elected not to pay approximately $118.8 million in interest due on August 15, 2014 on senior notes issued by its subsidiaries NII Capital Corp. and NII International Telecom, S.C.A. Under the terms of the indentures for the senior notes, there is a 30-day grace period during which the Company may elect to make the interest payments and cure any potential non-payment claims. As previously disclosed, the Company continues to engage in discussions with holders of, and representatives of certain holders of, the senior notes issued by NII Capital Corp. and NII International Telecom regarding the potential terms on which the obligations evidenced by those senior notes could be restructured, including by exchanging all or a portion of the senior notes for equity interests in, or debt securities of, the reorganized Company. Currently the Company has not entered into any agreements relating to a potential restructuring of its obligations, and there can be no assurance that these efforts will result in any such agreement. Additional information regarding the processes for implementing any agreed or other restructuring either on a standalone basis or in conjunction with one or more other potential actions and the potential timing of those processes is included in the Company's Form 10-Q for the quarter ended on June 30, 2014 filed with the Securities and Exchange Commission on August 11, 2014."