US wireless operator MetroPCS has completed the sale of two tranches of senior notes worth an aggregate amount of US$3.5bn. Each tranche had a size of US$1.75bn, the first one maturing in 2021 and with a coupon of 6.25%, and the second one maturing in…
US wireless operator MetroPCS has completed the sale of two tranches of senior notes worth an aggregate amount of US$3.5bn.
Each tranche had a size of US$1.75bn, the first one maturing in 2021 and with a coupon of 6.25%, and the second one maturing in 2023 and with a 6.625% coupon.
MetroPCS said the net proceeds of US$3.47bn will be used to pay off, among other things, the outstanding amounts of its existing senior secured credit facility,
If the proposed merger of MetroPCS with Deutsche Telekom subsidiary T-Mobile USA does note close before 17 January 2014, or if should fall apart entirely, the notes will be subject to a special mandatory redemption.
MetroPCS shareholders are set to vote on the merger at an EGM on 12 April.
