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T-Mobile unit enters $4B loan facility with Deutsche Telekom

T-Mobile US Inc.-owned T-Mobile USA Inc. entered into a $4 billion secured term loan facility with its majority stockholder Deutsche Telekom AG to refinance its outstanding $1.98 billion secured term loans issued under a Nov. 9, 2015, term loan credit agreement.

The loans will be drawn in two tranches Jan. 31, with $2 billion to bear interest at a rate equal to a per annum rate of LIBOR plus a margin of 2%, maturing Nov. 9, 2022, and $2 billion to bear interest at a rate equal to a per annum rate of LIBOR plus a margin of 2.25%, maturing Jan. 31, 2024.

T-Mobile USA is not required to pay any upfront fees, underwriting fees, original issue discount or other consideration to Deutsche Telekom in connection with the loan, according to a Jan. 25 SEC filing.