T-Mobile to use $1 billion of note proceeds to redeem 7 7/8% notes

By Toni Weeks

San Luis Obispo, Calif., Sept. 3 – T-Mobile US, Inc. said it plans to use about $1 billion of proceeds from a new offering of senior notes to redeem its outstanding 7 7/8% senior notes due 2018 and to pay related transaction fees and expenses, according to a press release.

The company priced $3 billion of the notes on Wednesday in two tranches. The notes will be issued by subsidiary T-Mobile USA, Inc.

Bellevue, Wash.-based T-Mobile is a mobile communications company.

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