MetroPCS roadshow starts Wednesday for $1.1 billion eight-year notes

By Paul A. Harris

St. Louis, Oct. 17 - MetroPCS Wireless will start a roadshow on Wednesday for its $1.1 billion offering of eight-year senior notes (Caa2/CCC+), according to a market source.

The roadshow is scheduled to conclude on Oct. 26.

Bear Stearns & Co., Merrill Lynch & Co. and Banc of America Securities LLC will be the bookrunners.

The notes will come with five years of call protection.

The company will also put in place a $1.5 billion credit facility.

Proceeds will be used to refinance $900 million of existing debt, to fund the purchase of wireless spectrums won in the Federal Communications Commission's Auction 66 and for general corporate purposes.

The prospective issuer is a Dallas-based provider of wireless communications services.

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