| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tenders 2012 > News item |
MetroPCS Wireless gets enough consents to amend 7 7/8%, 6 5/8% notes
By Toni Weeks
San Diego, Dec. 17 - MetroPCS Communications, Inc. said its indirect wholly owned subsidiary MetroPCS Wireless, Inc. received enough consents to amend the indentures governing its 7 7/8% senior notes due 2018 and its 6 5/8% senior notes due 2020. The consent solicitation ended at 5 p.m. ET on Dec. 14.
According to a press release, the supplemental indentures incorporating the amendments were executed on Dec. 14.
As previously reported, for each series of notes, the company paid a total consent fee of $5 million in cash to consenting holders on a pro rata basis upon the effectiveness of a revised supplemental indenture amending the notes.
The solicitation was in connection with the proposed merger with Deutsche Telekom AG, T-Mobile Global Zwischenholding GmbH, T-Mobile Global Holding GmbH and T-Mobile USA, Inc.
The company proposed to modify the definition of a "change of control" in each note series so that completion of the merger would not be considered a change of control, the release noted.
The amendments also conformed covenants, events of default and other non-economic terms to those that are expected to be sold by T-Mobile to Deutsche Telekom and to new notes that may be issued by the company and assumed by T-Mobile after the merger.
The execution of the revised supplemental indentures and payment of the consent fee was conditioned on obtaining consents from holders of at least a majority of both series of outstanding notes.
MacKenzie Partners, Inc. (800 322-2885) was the information and tabulation agent. J.P. Morgan Securities LLC (212 270-0733) was the solicitation agent.
Dallas-based MetroPCS is a wireless communications service provider.
© 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.