US mobile operator MetroPCS announced last week that its subsidiary, MetroPCS Wireless, has expanded its US$1.6bn senior secured credit facility to include a US$1.5bn loan.
In a statement on 3 March, the company said that the new loan would be used to…
US mobile operator MetroPCS announced last week that its subsidiary, MetroPCS Wireless, has expanded its US$1.6bn senior secured credit facility to include a US$1.5bn loan.
In a statement on 3 March, the company said that the new loan would be used to repay a US$500m loan that is set to mature in 2013, as well as for general corporate purposes including “opportunistic spectrum acquisitions”.
JP Morgan is reportedly arranging the loan.
MetroPCS is in the process of rolling out its LTE network in the US. This 4G market is becoming increasingly competitive, with AT&T, LightSquared and Verizon all coming forward with rival LTE networks while Clearwire is backing its WiMax network.
Reports surfaced yesterday that it may be considering a partnership with satellite/terrestrial venture LightSquared. MetroPCS’s CFO reportedly said that such a partnership would be a wonderful opportunity for the company.
