Telephone and Data Systems to use note proceeds to redeem 7.6% notes

By Toni Weeks

San Diego, March 21 - Telephone and Data Systems, Inc. will use the proceeds from its planned senior notes offering to redeem some or all of its $282.5 million of 7.6% series A notes due 2041, according to a 424B5 filed Monday with the Securities and Exchange Commission.

Until the redemption occurs, proceeds from the notes offering may be deposited in interest-bearing accounts or invested in short-term investment securities.

The telecommunications company is based in Chicago.

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