T-Mobile US has priced an underwritten public offering of 66.1 million common shares at US$25.00 per share. Plans for the issue were announced earlier this week. The operator is looking to raise US$1.6bn from the transaction, and to channel net proceeds…
T-Mobile US has priced an underwritten public offering of 66.1 million common shares at US$25.00 per share. Plans for the issue were announced earlier this week.
The operator is looking to raise US$1.6bn from the transaction, and to channel net proceeds towards general corporate purposes, including capital investments and acquiring additional spectrum in private party transactions or government auctions.
A greenshoe option for a further 6.6 million shares is also available.
Morgan Stanley, Goldman Sachs, JP Morgan, Credit Suisse and Deutsche Bank are the joint book-running managers for the offering.
Analysts reacting to the news on 12 November predicted an imminent move. New Street’s Jonathan Chaplin and Nomura analyst Adam Ilkowitz suggested that a spectrum deal is on the cards.
Over the six months T-Mobile has been listed – following its reverse merger with MetroPCS – investors have been bullish on the operator’s prospects and its shares have risen 66%.
