Regional wireless operator US Cellular has secured a seven-year loan from CoBank and other farm credit system lenders of up to US$225m.
The company will use the proceeds for general corporate purposes, including potential spectrum purchases and capital…
Regional wireless operator US Cellular has secured a seven-year loan from CoBank and other farm credit system lenders of up to US$225m.
The company will use the proceeds for general corporate purposes, including potential spectrum purchases and capital expenditures, it said in a statement.
CoBank served as lead arranger, administrative agent and bookrunner.
Last month, the company agreed to sell 595 towers to real estate investment trust (REIT) Vertical Bridge Holdings for US$159m and issued US$275m worth of notes to fund spectrum purchases.
The Chicago-based operator is 84%-owned by Telephone and Data Systems (TDS), while the remaining shares are publicly-traded.
It claims to own and operate the fifth-largest wireless telecoms network in the US, serving 4.7 million customers in 23 states.
