By Paul A. Harris
Portland, Ore., Aug. 14 - T-Mobile USA Inc. priced a $500 million issue of five-year senior notes (Ba3/BB/) at par to yield 5¼% on Wednesday, according to a market source.
The yield printed at the tight end of yield talk that was set in the 5 3/8% area.
Deutsche Bank Securities Inc. ran the books.
Proceeds will be used for general corporate purposes.
T-Mobile is a Bellevue, Wash.-based wireless network operator.
| Issuer: | T-Mobile USA
|
| Amount: | $500 million
|
| Maturity: | Sept. 1, 2018
|
| Securities: | Senior notes
|
| Bookrunner: | Deutsche Bank Securities Inc.
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Spread: | 378 bps
|
| Call protection: | Two years
|
| Trade date: | Aug. 14
|
| Settlement date: | Aug. 21
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB
|
| Distribution: | Rule 144A
|
| Price talk: | 5 3/8% area
|
| Marketing: | Quick to market
|
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