T-Mobile USInc. unit T-Mobile USA Inc. on April 29 agreed to issue andsell to up to $650million of T-Mobile USA's 6.000% senior notes due 2024.
T-Mobile USA will issue the notes on the same terms as thecompany's $1 billion amount of 6.000% senior notes due 2024. Additionally, theclosing of the issuance and sale of the notes is scheduled to occur on the issuedate determined by T-Mobile USA that may not be later than Nov. 30. T-MobileUSA will also determine the aggregate principal amount of the notes to beissued on the issue date, according to a SEC filing.
The purchase price for the notes will be determined on theissue date to reflect the effective yield of 4.958% on the existing 2024 notes,calculated using their average trading price of 104.515% during April 27 andApril 28. The minimum purchase price payable for the notes would be 104.047% ifthe notes were issued on the latest permissible issue date of Nov. 30, thecompany said in a Form 8-K filed April 29.
Further, T-Mobile USA is required to use the proceeds toeither acquire low-band spectrum, or to refinance debt, or for generalcorporate purposes.