U.S. Cellular calls all $275 million 7¼% senior notes due 2063

By Marisa Wong

Los Angeles, April 12 – United States Cellular Corp. announced that it will redeem all of its outstanding 7¼% senior notes due 2063

The $275 million of outstanding notes will be redeemed on May 12 at par of $25 plus accrued interest to the redemption date.

The paying agent is Bank of New York Mellon Trust Co., NA.

“Lowering the cost of our balance sheet is a top treasury priority for UScellular this year, as we work to optimize our financial leverage to enable our business to continue investing in attractive opportunities such as 5G,” Peter L. Sereda, Telephone and Data Systems, Inc. executive vice president and chief financial officer commented in a press release.

Parent company TDS also announced on Monday a redemption of its 6 7/8% senior notes due 2059 and 7% senior notes due 2060.

Based in Chicago, TDS provides wireless, cable and wireline broadband, video and voice services. U.S. Cellular is TDS’ 82% owned subsidiary.

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