MetroPCS to start roadshow Wednesday for benchmark notes in two parts

By Paul A. Harris

Portland, Ore., March 5 - MetroPCS Wireless, Inc. plans to start a roadshow on Wednesday for a benchmark-sized offering of eight- and 10-year senior notes, according to market sources.

The roadshow wraps up on Friday, and the notes are expected to price on Friday.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

The eight-year notes come with four years of call protection, and the 10-year notes will come with five years of call protection.

Proceeds will be used to repay bank debt related to the acquisition of the company by T-Mobile USA, and for general corporate purposes. Proceeds will be held in a restricted account pending the closing of the merger.

MetroPCS is a Dallas-based provider of wireless communications service.

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