Article: US Unwired Inc. Announces Closing of Senior Secured Notes Offering.

LAKE CHARLES, La. -- US Unwired Inc. (OTCBB:UNWR) stated today that it closed its previously announced offering of $360 million of senior secured notes, consisting of $125 million aggregate principal amount of first priority senior secured floating rate notes due 2010 ("2010 Notes") and $235 million aggregate principal amount of 10% second priority senior secured notes due 2012 ("2012 Notes"). In addition, US Unwired announced that it paid in full and terminated its existing senior secured credit facility and purchased $235.8 million face amount of its outstanding 13 3/8% Senior Subordinated Discount Notes due 2009.

"We are extremely pleased with our recent ...

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