NII Holdings Inc. announced that its Board of Directors has approved changes pertaining to its corporate governance at meetings held in conjunction with its annual meeting of stockholders in Mexico City on May 22, 2013. After careful consideration, the Board determined that it was in the best interests of the company to separate the positions of chairman of the Board and chief executive officer and has elected director Kevin Beebe to serve as its independent, non-executive chairman effective May 22, 2013. Mr. Beebe has been a member of the Board since 2010 and president and chief executive officer of 2BPartners LLC, since 2007. With the election of Mr. Beebe as the independent, non-executive chairman, Carolyn Katz will no longer serve as lead independent director. She will continue as a director and chair of the audit committee. Mr. Shindler will also continue to serve as a member of the Board. In addition, Ricardo Knoepfelmacher has been elected to NII's Board of Directors. Mr. Knoepfelmacher co-founded Angra Partners, a financial advisory and private equity firm, in 2003. Prior to his service as managing partner at Angra Partners, Mr. Knoepfelmacher served as chief executive officer of Brasil Telecom from 2005 to 2009 and chief executive officer of Pegasus Telecom from 2000 to 2002.

NII Holdings Inc. announced that the shareholders at its annual meeting held on May 22, 2013 approved the amendment of the company's restated Certificate of Incorporation.

NII Holdings announced that it to issue $700 million in senior notes due 2019 at an annual yield of 7.875%. The company initially planned to offer $500 million in senior notes, but subsequently decided to increase the offer. The company expects the sale of the notes to close on May 23, 2013. The company will use the proceeds to fund the payment in full of its Mexico bank loan and one of its Brazil bank loans.