T-Mobile looks to raise $3B, in part for spectrum

T-Mobile said it plans to offer $3 billion in notes, of which $2 billion the company said would be directed toward its C-band spectrum purchases.

March 16, 2021

1 Min Read

BELLEVUE, Wash. – T-Mobile US, Inc. (NASDAQ: TMUS) ("T-Mobile") announced today that T-Mobile USA, Inc., its direct wholly-owned subsidiary ("T-Mobile USA" or the "Issuer"), plans to offer, subject to market and other conditions, up to $3.0 billion aggregate principal amount of senior notes, to be issued in three tranches with maturities in 2026, 2029 and 2031 (collectively, the "notes") in a registered public offering.

T-Mobile USA intends to use $2.0 billion of the net proceeds from the offering of the notes to acquire spectrum licenses pursuant to the FCC's C-Band spectrum Auction 107, with any remainder to be used first to redeem the Issuer's 6.500% Senior Notes due 2026 and then for refinancing existing indebtedness on an ongoing basis.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are the joint book-running managers for the offering of the notes.

T-Mobile

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