T-Mobile restates revolver for $7.5 billion maturing in five years

By Wendy Van Sickle

Columbus, Ohio, Oct. 17 – T-Mobile US, Inc. subsidiary T-Mobile USA, Inc. amended and restated its credit agreement on Monday to provide for a $7.5 billion revolver that matures on Oct. 17, 2027, according to an 8-K filing with the Securities and Exchange Commission.

There is a letter-of-credit sub-facility of up to $1.5 billion and a swingline loan sub-facility of up to $500 million.

Borrowings bear interest at term SOFR, Euribor, Sonia, CDOR or Aaron plus a margin that ranges from 87.5 basis points to 112.5 bps, and there is a fee on unused commitments of 7.5 bps to 12.5 bps, both depending on ratings.

T-Mobile must maintain a leverage ratio of no more than 4.5 times.

JPMorgan Chase Bank, NA is the administrative agent and is a joint lead arranger and bookrunner along with Barclays Bank plc, Citibank, NA, Credit Suisse Loan Funding LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Morgan Stanley Senior Funding, Inc., RBC Capital Markets and Wells Fargo Securities, LLC.

Proceeds may be used for general corporate purposes, including working capital needs.

T-Mobile is a Bellevue, Wash.-based provider of wireless services.

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