T-Mobile USA extends $1.35 billion note purchase agreement to May; Enercon gets financing

By Devika Patel

Knoxville, Tenn., Nov. 2 – On Wednesday, Bellevue, Wash.-based wireless communications provider T-Mobile USA, Inc. extended its purchase agreement to issue up to $1.35 billion of its 6% senior notes due April 15, 2024 to its majority stockholder, Deutsche Telekom AG, to May 31, 2017 from Nov. 30.

The deal was negotiated on April 26.

If issued, the notes would be on the same terms as T-Mobile’s $1 billon of 6% senior notes due 2024 issued on April 1. Proceeds would be used to fund low-band spectrum purchases or for outstanding debt.

Also, Montreal-based wind turbine design and sales company Enercon Canada Inc. closed C$825.5 million of non-recourse project financing for its Niagara region wind farm in Ontario, Canada, consisting of a C$789.5 million construction loan that will convert into an 18-year amortizing loan after the start of commercial operations and a C$39 million letter-of-credit facility.

About C$252.4 million of the Enercon financing will be covered by a guarantee offered to the lenders by the Federal Republic of Germany through its Export Credit Agency Euler-Hermes. The mandated lead arrangers and bookrunners are KfW IPEX-Bank, MUFG, CaixaBank, SA, Landesbank Baden-Württemberg, ABN Amro Capital USA LLC and DZ Bank AG, New York Branch.

MUFG is the administrative agent, collateral agent and account bank. KfW IPEX-Bank is the Hermes agent and technical bank. Landesbank Baden-Württemberg is the insurance agent. The documentation banks are MUFG and KfW IPEX-Bank.

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