TMCnet News
TDS sells USD175m of 5.875% senior notesNov 28, 2012 (M2 EQUITYBITES via COMTEX) -- Telephone and Data Systems Inc (TDS) (NYSE:TDS), a provider of wireless, local and long-distance telephone and broadband services, announced on Tuesday that it sold USD175m of 5.875% percent senior notes due 2061. Also, TDS has granted the underwriters an option to purchase up to USD25m of additional notes. These notes are callable at par on and after 1 December 2017 and closing is expected to occur on 3 December 2012. The notes are expected to be listed on the NYSE under the symbol 'TDA'. TDS is expected to use the net proceeds of approximately USD168.9m from the offering, or USD193.1m if the underwriters exercise their over-allotment option in full, for general corporate purposes, including acquisitions. BofA Merrill Lynch, Citigroup, Wells Fargo Securities and UBS Investment Bank were joint book-running managers. Comments on this story may be sent to [email protected] |