T-Mobile USA Raises a Couple Billion

November 19th, 2013 by · 3 Comments

This morning T-Mobile USA announced that it has agreed to sell $2B in two sets of senior notes. The reason for the new capital isn’t exactly hard to divine, as the company has been saying it would raise money to buy spectrum for some time.

Of course they don’t have to use it for spectrum, but their strategic position doesn’t leave too much to the imagination. So the real question is, which spectrum? There is the A-Block Verizon has for sale, the H-Block that the government will be auctioning, and of course the LightSquared spectrum that is still looking for a home.  But that Verizon spectrum probably has the inside track.

T-Mobile is selling $1B in 6.125% senior notes due 2022 and $1B in 6.5% senior notes due 2024 in a registered public auction. Moodys has already given the offering a covenant quality assessment of 3.40.


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Categories: Financials · Wireless

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