Shentel completes sale of wireless assets to T-Mobile US

2 Jul 2021

Shenandoah Telecommunications Company (Shentel) has confirmed that it closed the previously announced sale of its wireless assets and operations to T-Mobile USA on 1 July. The company received cash proceeds of USD1.94 billion, inclusive of the approximately USD60 million settlement of the waived management fees by Sprint Corporation, an indirect subsidiary of T-Mobile, and net of certain transaction expenses.

As required by the terms of its 2018 credit facility, USD684 million of the proceeds were used to fully repay all outstanding debt and to terminate the facility and related interest rate swap contracts.

United States, Shenandoah Telecommunications (Shentel), T-Mobile US