By Lisa Kerner
Charlotte, N.C., March 7 – T-Mobile USA, Inc. agreed to place $2 billion of 5.3% senior notes due 2021 with Deutsche Telekom AG, the company’s majority stockholder and a holder of a portion of T-Mobile USA’s outstanding debt.
Closing is expected to occur by Dec. 7, according to an 8-K filing with the Securities and Exchange Commission.
Proceeds will be used first for acquisitions of low-band spectrum, second for debt refinancing and lastly for general corporate purposes.
Interest is payable semiannually on March 15 and Sept. 15, beginning on March 15, 2017.
The notes will be sold without being registered under the Securities Act of 1933, as amended.
T-Mobile USA is a direct, wholly owned subsidiary of T-Mobile US, Inc., a Bellevue, Wash.-based wireless telecommunications company.
| Issuer: | T-Mobile USA, Inc.
|
| Guarantor: | T-Mobile US, Inc.
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Coupon: | 5.3%
|
| Maturity: | March 15, 2021
|
| Price: | Par
|
| Yield: | 5.3%
|
| Purchaser: | Deutsche Telekom AG
|
| Pricing date: | March 6
|
| Settlement date: | By Dec. 7
|
| Distribution: | Private placement
|
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