Media, telecom capital markets activity recovers after a 5-month slump

Capital markets activity among publicly traded media and telecom companies in the U.S., Canada and Bermuda brought in a total of $7.66 billion in September, marking the sector's second-highest monthly total for 2022, according to S&P Global Market Intelligence data.

The sector raised a year-to-date high of $41.60 billion in March.

T-Mobile US Inc. issued notes worth $1.25 billion in September, while its unit T-Mobile USA Inc. raised $1.25 billion from a debt offering of 5.2% senior notes due Jan. 15, 2033.

* Review WarnerMedia Holdings' capital offerings. * See the details of T-Mobile US private placement.

The five largest capital raises for the media and telecom sectors year-to-date came from WarnerMedia Holdings Inc., led by a $7 billion private placement. The company raised a total of $30 billion from 11 debt offerings in March. The offerings came as WarnerMedia was preparing to be spun off from AT&T Inc. and combined with Discovery Inc. The transaction closed in April, creating Warner Bros. Discovery Inc.

Rogers Communications Inc.'s two senior debt offerings, each raising $2 billion for the wireless telecommunication services company, ranked as the sectors' sixth- and seventh-largest to date.

Within the broader media and telecom sectors, movies and entertainment companies had the highest total raise year-to-date with $30.98 billion. Wireless telecommunication services companies followed with $13.80 billion, while cable and satellite companies came in third with $5.48 billion.