U.S. Cellular calls all 6.95% senior notes due 2060 at par

By Marisa Wong

Los Angeles, Aug. 2 – United States Cellular Corp. said it will redeem all of its outstanding 6.95% senior notes due 2060.

The $342 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.

“Utilizing UScellular’s recently upsized $450M EIP securitization facility for the redemption of these notes, we continue to build on the progress 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 mobile network operator is based in Chicago.

© 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.