MetroPCS launches cash tender for $500 million 9¼% notes due 2014

By Devika Patel

Knoxville, Tenn., Sept. 7 - Metro PCS Communications Inc. said it will use the proceeds from a subsidiary's $500 million offering of notes to purchase up to $500 million of its 9¼% senior notes due 2014 in a cash tender offer.

The offer will expire at midnight ET on Oct. 5 and is conditional upon certain conditions, including the closing of the $500 million notes offering.

The company will pay $1,046.25 per $1,000 in notes for notes tendered by midnight ET on Sept. 20. Notes tendered after the Sept. 20 early tender deadline will be bought back at par.

Interest up to, but not including, the purchase date will be paid in cash. The purchase date is expected to be Oct. 6.

J.P. Morgan Securities LLC (212 270-3994) is the dealer manager. MacKenzie Partners, Inc. (800 322-2885 and 212 929-5500) is the information agent and depositary.

Metro PCS is a Dallas-based wireless communications service provider.

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