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Deutsche Telekom Sells $5.6 Billion of T-Mobile Senior Notes

Oct. 9 (Bloomberg) -- Deutsche Telekom AG, Germany’s biggest phone company, sold $5.6 billion of T-Mobile USA Inc. notes in five parts, 81 percent more than the American wireless carrier had initially said would be sold.

Deutsche Telekom, which controls T-Mobile, sold $1.25 billion of 6.542 percent notes due 2020 to yield 460 basis points more than similar-maturity Treasuries and $1.25 billion of 6.731 percent debentures that mature in 2022 to yield 444 basis points more than benchmarks, according to data compiled by Bloomberg.

The German telecommunications company also sold $1.25 billion of 6.464 percent securities due 2019 with a relative yield of 441 basis points, $1.25 billion in 6.633 percent bonds due 2021 with a 447 basis-point spread and $600 million of 6.836 percent notes due 2023 at 450 basis points, Bloomberg data show.

The debt that was sold is part of an $11.2 billion private placement of notes T-Mobile issued to Deutsche Telekom in April as part of its merger with MetroPCS Communications Inc., the company said in a regulatory filing yesterday with the U.S. Securities and Exchange Commission.

The debt may be rated Ba3 by Moody’s Investors Service, according to a person familiar with the offering, who asked not to be identified citing lack of authorization to speak publicly.

Deutsche Bank AG, Citigroup Inc., Credit Suisse Group AG, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley managed the transaction, Bloomberg data show.

To contact the reporter on this story: Callie Bost in New York at

To contact the editor responsible for this story: Alan Goldstein at

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