TDS calls all 6 7/8% senior notes due 2059, 7% senior notes due 2060

By Marisa Wong

Los Angeles, April 12 – Telephone and Data Systems, Inc. said it will redeem all of its outstanding 6 7/8% senior notes due 2059 and 7% senior notes due 2060.

The $225 million of outstanding 2059 notes and $300 million outstanding 2060 notes will be redeemed on May 12 at par of $25 plus accrued interest to the redemption date.

The Bank of New York Mellon Trust Co., NA is the paying agent.

“Lowering the cost of our balance sheet is a top treasury priority for TDS and UScellular this year, as we work to optimize our financial leverage to enable our businesses to continue investing in attractive opportunities such as 5G and fiber deployment,” Peter L. Sereda, TDS executive vice president and chief financial officer, commented in a press release.

TDS’ 82% owned subsidiary United States Cellular Corp. also announced on Monday plans to redeem its 7¼% senior notes due 2063.

Based in Chicago, TDS provides wireless, cable and wireline broadband, video and voice services.

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