Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

MetroPCS Offering Two-Part Benchmark Debt Ahead of T-Mobile Deal

March 5 (Bloomberg) -- MetroPCS Communications Inc., the pay-as-you-go wireless carrier that agreed in October to merge with Deutsche Telekom AG’s T-Mobile USA business, is planning to sell benchmark debt in two parts.

The company may offer eight- and 10-year debt through its MetroPCS Wireless Inc. unit, according to a person familiar with the transaction. The bonds are being marketed this week.

A portion of the proceeds will be used to repay the company’s senior secured credit facility upon consummation of the T-Mobile transaction, the Richardson, Texas-based company said yesterday in a statement.

The bonds will redeemed if the merger doesn’t close by Jan. 17, said the person, who asked not to be identified because terms aren’t set. The securities will be redeemed at par through Sept. 30 and at 101 cents on the dollar afterwards.

Deutsche Bank AG, Credit Suisse Group AG, JPMorgan Chase & Co. and Morgan Stanley are managing the offering, the person said. Benchmark sales are typically at least $500 million.

To contact the reporter on this story: Sarika Gangar in New York at sgangar@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.