T-Mobile lifts term B to $2 billion, cuts spread to Libor plus 275 bps

By Sara Rosenberg

New York, Nov. 2 – T-Mobile USA Inc. upsized its seven-year covenant-light term loan B to $2 billion from $1 billion and lowered pricing to Libor plus 275 basis points from Libor plus 300, according to a market source.

As before, the term loan has a 0.75% Libor floor and an original issue discount of 99.5.

Deutsche Bank Securities Inc., Barclays, Citigroup Global Markets Inc., Goldman Sachs Bank USA and J.P. Morgan Securities LLC are the bookrunners on the deal. Co-managers include Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc. and RBC Capital Markets LLC.

Proceeds will be used for general corporate purposes, which may include the acquisition of additional spectrum.

Commitments were due at the end of the day on Monday, the source added.

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

© 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.