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Telephone and Data Systems calls all 6 5/8% senior notes due 2045
By Marisa Wong
Los Angeles, Aug. 2 – Telephone and Data Systems, Inc. said it will redeem all of its outstanding 6 5/8% senior notes due 2045.
The $116.25 million of outstanding notes will be redeemed on Sept. 1 at par of $25 plus accrued interest to the redemption date.
Bank of New York Mellon Trust Co., NA is the paying agent.
TDS’ 82% owned subsidiary United States Cellular Corp. also announced on Monday plans to redeem its 6.95% senior notes due 2060.
“Redemption of these notes builds on the progress we’ve already made towards lowering the average rate paid on our borrowings,” Peter L. Sereda, TDS executive vice president and chief financial officer, commented in a press release.
“The cost savings generated through these redemptions will enable additional opportunities for investments in 5G and fiber deployment,” Sereda added.
Based in Chicago, TDS provides wireless, cable and wireline broadband, video and voice services.
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