MetroPCS repays credit facility in full upon merging with T-Mobile

By Marisa Wong

Madison, Wis., May 2 - MetroPCS Wireless, Inc. repaid all outstanding amounts under its $2.5 billion credit agreement with JPMorgan Chase Bank, NA as administrative agent and terminated the facility on May 1, according to an 8-K filing with the Securities and Exchange Commission.

The facility was repaid with proceeds from a sale of $1.75 billion of 6¼% senior notes due 2021 and $1.75 billion of 6 5/8% senior notes due 2023.

The paydown and the notes sale were made in connection with parent company MetroPCS Communications Inc.'s merger with and into T-Mobile USA Inc.

Dallas-based MetroPCS Communications has been renamed T-Mobile US, Inc.

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