By Angela McDaniels
Tacoma, Wash., Nov. 13 - AT&T Inc. determined the prices it will pay in its any and all tender offers for 15 series of notes and debentures, according to a company news release.
The total considerations payable per $1,000 principal amount of notes are noted in the table below. They were calculated using a fixed spread over the bid-side price of a reference Treasury security at 2 p.m. ET on Nov. 13.
The offers were scheduled to expire at 5 p.m. ET on Nov. 13.
As previously reported, AT&T is offering to purchase any and all of the following notes:
• BellSouth Corp.'s 7.12% debentures due 2097;
• BellSouth Telecommunications, LLC's 7% debentures due 2095;
• BellSouth Telecommunications' 6.65% zero-to-full debentures due 2095;
• BellSouth's 7.875% debentures due 2030;
• BellSouth's 6.875% notes due 2031;
• BellSouth's 6.55% notes due 2034;
• Ameritech Capital Funding Corp.'s 6.875% debentures due 2027;
• Ameritech Capital Funding's 6.55% debentures due 2028;
• Indiana Bell Telephone Co., Inc.'s 7.3% debentures due 2026;
• BellSouth Telecommunications' 7% debentures due 2025;
• BellSouth's 6% notes due 2034;
• BellSouth Telecommunications' 6.375% debentures due 2028;
• AT&T Inc.'s 6.8% notes due 2036;
• New Cingular Wireless Services, Inc.'s 8.75% senior notes due 2031; and
• AT&T Corp.'s 6.5% notes due 2029.
Maximum tender offers
The company is also tendering for a maximum amount of the following notes, which are listed in order of priority acceptance level:
• BellSouth's $400 million of 5.2% notes due 2016;
• AT&T Inc.'s $1.25 billion of 5.625% global notes due 2016;
• AT&T Inc.'s $1,981,282,000 of 6.5% global notes due 2037;
• AT&T Inc.'s $2.75 billion of 6.3% global notes due 2038;
• AT&T Inc.'s $2.25 billion of 6.55% global notes due 2039;
• AT&T Inc.'s $491,219,000 of 6.45% global notes due 2034;
• AT&T Inc.'s $445.62 million of 6.4% global notes due 2038;
• AT&T Inc.'s $586,254,000 of 6.15% global notes due 2034; and
• Pacific Bell Telephone Co.'s $625 million of 7.125% debentures due 2026.
The maximum amount is $4 billion less the amount of the notes tendered and accepted for purchase in the any and all offers.
The maximum aggregate principal amount of 5.2% notes and 5.625% notes due 2016 that will be accepted is $500 million.
The maximum tender offers will end at 11:59 p.m. ET on Dec. 4.
The total consideration to be paid in the maximum tender offers was not specified, but the company said that holders must tender their notes by 5 p.m. ET on Nov. 19 to receive the early tender premium.
Deutsche Bank Securities Inc. (866 627-0391 or 212 250-2955) and J.P. Morgan Securities LLC (866 834-4666 or 212 834-4811) are the lead dealer managers. The tender and information agent is Global Bondholder Services Corp. (866 873-7700 or 212 430-3774).
AT&T is a telecommunications company based in Dallas.
AT&T any and all tender offers prices
| Debentures | Amount outstanding | Fixed spread | Total consideration
|
| 7.12% debentures due 2097 | $293,144,000 | 245 bps | $1,126.83
|
| 7% debentures due 2095 | $240,899,000 | 245 bps | $1,107.94
|
| 6.65% zero-to-full debentures due 2095 | $268,962,000 | 245 bps | $924.80
|
| 7.875% debentures due 2030 | $690.22 million | 195 bps | $1,214.69
|
| 6.875% notes due 2031 | $505,451,000 | 185 bps | $1,129.08
|
| 6.55% notes due 2034 | $510,459,000 | 190 bps | $1,093.97
|
| 6.875% debentures due 2027 | $200 million | 255 bps | $1,156.31
|
| 6.55% debentures due 2028 | $400 million | 255 bps | $1,126.03
|
| 7.3% debentures due 2026 | $150 million | 255 bps | $1,186.15
|
| 7% debentures due 2025 | $300 million | 235 bps | $1,170.10
|
| 6% notes due 2034 | $528,871,000 | 185 bps | $1,034.72
|
| 6.375% debentures due 2028 | $500 million | 245 bps | $1,121.57
|
| 6.8% notes due 2036 | $267.87 million | 180 bps | $1,143.49
|
| 8.75% senior notes due 2031 | $896,496,000 | 130 bps | $1,406.80
|
| 6.5% notes due 2029 | $263,472,000 | 140 bps | $1,128.87
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
