By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – T-Mobile US, Inc. direct wholly owned subsidiary T-Mobile USA, Inc. sold $3 billion of notes in three parts (Baa3/BBB-/BBB-) in the Monday market, according to a news release.
The notes will be guaranteed initially by the parent company and some subsidiaries of the issuer.
The issuer priced
• $1.25 billion of 4.95% notes due 2028;
• $1 billion of 5.65% notes due 2033; and
• $750 million of additional 5.65% notes due Jan. 15, 2053. These notes will be consolidated with and form a single series with the existing $1 billion of 2053 notes issued on on Sept. 15, 2022.
Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC are the joint bookrunners.
Deutsche Bank Trust Co. Americas is the trustee.
Fried, Frank, Harris, Shriver & Jacobson LLP and Polsinelli PC will be counsel to the company. Cahill Gordon & Reindel LLP will act as counsel for the bookrunners.
Proceeds will be used for general corporate purposes, which may include share repurchases and refinancing of existing debt on an ongoing basis.
The issuer is a Bellevue, Wash.-based wireless operator.
| Issuer: | T-Mobile USA, Inc.
|
| Amount: | $3 billion
|
| Issue: | Notes
|
| Bookrunners: | Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC
|
| Trustee: | Deutsche Bank Trust Co. Americas
|
| Counsel to issuer: | Fried, Frank, Harris, Shriver & Jacobson LLP and Polsinelli PC
|
| Counsel to underwriters: | Cahill Gordon & Reindel LLP
|
| Trade date: | Sept. 12
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
|
|
| 2028 notes
|
| Amount: | $1.25 billion
|
| Maturity: | 2028
|
| Coupon: | 4.95%
|
|
|
| 2033 notes
|
| Amount: | $1 billion
|
| Maturity: | 2033
|
| Coupon: | 5.05%
|
|
|
| 2053 notes add-on
|
| Amount: | $750 million
|
| Maturity: | Jan. 15, 2053
|
| Coupon: | 5.65%
|
| Prior issue: | $1 billion on Sept. 15
|
|
|
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