AT&T to redeem $3 billion 7.875% notes due March 2011 on Dec. 31

By Melissa Kory

Cleveland, Dec. 1 - AT&T Inc.'s subsidiary New Cingular Wireless Services, Inc. announced that it will redeem all its outstanding 7.875% notes due March 1, 2011 on Dec. 31.

AT&T expects the total cash payment to be about $3.115 billion, including a principal of $3 billion, accrued interest of $79 million and a call premium of $36 million.

The redemption is expected to be funded by cash on hand and commercial paper.

U.S. Bank NA is the redemption agent.

AT&T is a phone and internet services provider based in Dallas.

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