MetroPCS Communications, Inc. PCS today announced that MetroPCS Wireless, Inc., an indirect
wholly-owned subsidiary ("Wireless"), has received sufficient consents to
approve the amendments to the indentures governing its 7 7/8% Senior Notes due
2018 (the "2018 Notes") and its 6 5/8% Senior Notes due 2020 (the "2020
Notes", and together with the 2018 Notes, the "Notes"), which were sought in
Wireless' previously announced consent solicitation seeking consent to amend
the indentures governing the Notes.
The consent solicitation expired at 5:00 p.m., New York City time, on Friday,
December 14, 2012. Wireless will promptly pay, in accordance with the terms
of the Consent Solicitation Statement, dated December 5, 2012, a consent fee
consisting of: (i) an aggregate cash payment of $5,000,000, payable to
consenting holders of the 2018 Notes on a pro rata basis upon the
effectiveness of a revised supplemental indenture with respect to the 2018
Notes effecting the proposed amendments, and (ii) an aggregate cash payment of
$5,000,000, payable to consenting holders of the 2020 Notes on a pro rata
basis upon the execution and effectiveness of a revised supplemental indenture
with respect to the 2020 Notes effecting the proposed amendments.
On December 14, 2012, the supplemental indentures incorporating the
amendments, as described in the Consent Solicitation Statement, dated
December 5, 2012, have been executed by Wireless, the guarantors of the Notes
and the trustee for the Notes. The supplemental indentures provide for
immediate effectiveness of the amendments to the terms of the Notes.
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