T-Mobile USA whispers $1 billion eight-year notes in 6¼% area; pricing Tuesday

By Paul A. Harris

Portland, Ore., March 29 – T-Mobile USA, Inc. plans to price a $1 billion offering of eight-year senior notes on Tuessday, according to a market source.

The deal, which is coming in a public offering, has initial yield guidance in the 6¼% area, the source added.

Deutsche Bank Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays and Goldman Sachs & Co. are the joint bookrunners.

Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and RBC Capital Markets are the co-managers.

The notes come with three years of call protection and feature a three-year 35% equity clawback and a 101% poison put.

The Bellevue, Wash.-based wireless communications provider plans to use the proceeds for the purchase of 700 MHz A-block spectrum and other spectrum purchases.

© 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.