MetroPCS to sell $300 million add-on to 9¼% notes due 2014 on Thursday

By Paul A. Harris

St. Louis, May 30 - MetroPCS Communications, Inc. is expected to price a $300 million add-on to its 9¼% senior notes due 2014 on Thursday, according to a market source.

Bear Stearns & Co. is leading the Rule 144A and Regulation S add-on.

Proceeds will be used for general corporate purposes, which could include financing the company's participation in and acquisition of additional spectrum in the upcoming Federal Communications Commission's 700 MHz auction.

The original $1 billion issue was sold in November 2006.

The issuer is a wholly owned subsidiary of Dallas-based MetroPCS Wireless, Inc.

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