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T-Mobile Seeks To Raise $3B Via Senior Notes For Spectrum License Acquisition


T-Mobile US Inc (NASDAQ: TMUS) announced its subsidiary T-Mobile USA, Inc plans to offer up to $3 billion senior notes in three tranches with maturities in 2026, 2029, 2031 in a public offering.

  • T-Mobile USA plans to utilize $2 billion of the offering proceeds to acquire spectrum licenses under the FCC's C-Band spectrum Auction 107 to take the 5G network to the next level and continue delivering customer benefits unlocked by the merger with Sprint. The remaining proceeds would be utilized to repay its 6.5% Senior Notes due 2026 and refinancing existing indebtedness.
  • T-Mobile recently invested over $9.3 billion in the FCC's C-Band auction, selectively acquiring additional mid-band spectrum.
  • T-Mobile's cash and cash equivalents amounted to $10.4 billion as of December 31, 2020. The total debt and financing lease liabilities were $73.6 billion.
  • Credit Suisse Securities, Citigroup Global Markets, Deutsche Bank Securities, Goldman Sachs, Barclays Capital, J.P. Morgan Securities, Morgan Stanley, and RBC Capital Markets are the joint book-running managers for the note offering.
  • Price action: TMUS shares traded higher by 1.07% at $126.97 in the premarket session on the last check Tuesday.

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Posted-In: 5G spectrumNews Offerings Tech Media

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