NII Holdings Inc. yesterday announced a restructuring deal that would put the company in the hands of its bondholders, Dow Jones Daily Bankruptcy Review reported today. The Latin American Nextel Carrier said that the deal has the support of its major creditors, including hedge-fund manager Aurelius Capital Management and those holding bonds of NII's Luxembourg subsidiaries. The company said that $4.35 billion of its unsecured notes would be converted into equity in a reorganized NII. Aurelius and Capital Research and Management Co. also agreed to backstop a $500 million rights offering, according to a filing with U.S. Bankruptcy Court in Manhattan.
