MetroPCS to issue additional bonds to fund corporate expenses

15 Jan 2009

MetroPCS is planning to raise up to USD300 million in the high-yield bond market. The bonds that are due in five years are an add-on to MetroPCS’ existing 9.25% senior notes due 2014. MetroPCS said it plans to offer the notes to institutional buyers in offshore transactions through its indirect wholly owned subsidiary, MetroPCS Wireless Inc. The bonds are expected to price at a discount between USD0.89 and USD0.895 on the dollar. Funds raised from the sale will be used to cover corporate expenses such as working capital, capital expenditures and future liquidity needs.

United States, Metro by T-Mobile (formerly MetroPCS)