Regional wireless operator US Cellular has issued US$275m worth of 7.25% senior notes due 2063.
Proceeds from the offering, due to close on 8 December 2014, will be used for general corporate purposes, including potential spectrum purchases and capex,…
Regional wireless operator US Cellular has issued US$275m worth of 7.25% senior notes due 2063.
Proceeds from the offering, due to close on 8 December 2014, will be used for general corporate purposes, including potential spectrum purchases and capex, the company said in a statement.
The notes, which will be listed on New York stock exchange, are callable at par on and after 8 December 2019.
BofA Merrill Lynch, Morgan Stanley, RBC, Wells Fargo and UBS acted as joint book-running managers on the transaction.
To fund long-term investments, the company is also disposing of non-strategic spectrum and towers, US Cellular CEO Kenneth Meyers said in late November.
The operator is 84%-owned by Telephone and Data Systems (TDS), while the remaining shares are publicly-traded.
It owns and operates the fifth-largest wireless telecoms network in the US, serving 4.7 million customers in 23 states.
