T-Mobile Gains 3% On Public Offering Announcement, Chatter Of New Data Only Plan

Shares of

were trading higher by more than 3 percent on Tuesday after the company

a public offering of $1 billion worth of senior notes. T-Mobile plans on using the proceeds of the offering to purchase 700 MHz A-block spectrum and other spectrum purchases. The company noted that it plans on participating in the FCC's 2016 broadcast incentive auction of 600 MHz spectrum, and if it is successful in the auction process, the company anticipates a portion of the net proceeds would be used to acquire such spectrum. In separate news, T-Mobile is expected to introduce a new data-only plan.