New Issue: Telephone & Data sells $175 million 5.875% notes due 2061 at par

By Stephanie N. Rotondo

Phoenix, Nov. 26 - Telephone & Data Systems Inc. sold $175 million of 5.875% $25-par senior notes due Dec. 1, 2061 at par, a trader reported to Prospect News on Monday.

The notes become redeemable on Dec. 1, 2017 and will be listed on the New York Stock Exchange.

Joint bookrunners are Bank of America Merrill Lynch, Citigroup Global Markets Inc., UBS Securities LLC and Wells Fargo Securities LLC.

Proceeds will be used for general corporate purposes, which may include acquisitions.

The diversified telecommunications services company is based in Chicago.

Issuer:	Telephone & Data Systems Inc.
Securities:	Senior notes
Amount:	$175 million
Maturity:	Dec. 1, 2061
Bookrunners:	Bank of America Merrill Lynch, Citigroup Global Markets Inc., UBS Securities LLC, Wells Fargo Securities LLC
Co-managers:	RBC Capital Markets Inc., BNY Mellon Capital Markets LLC, TD Securities Inc., Comerica Securities and U.S. Bancorp
Coupon:	5.875%
Price:	Par of $25
Yield:	5.875%
Talk:	5.875% to 6%
Call options:	On or after Dec. 1, 2017 at par plus accrued interest
Pricing date:	Nov. 26
Settlement date:	Dec. 3
Cusip:	879433795

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