Dobson to redeem senior floaters due 2012, senior notes due 2013; units announce redemptions as well

By Devika Patel

Knoxville, Tenn., Nov. 19 - Dobson Communications Corp. announced it plans to redeem all of its $150 million outstanding senior floating-rate notes due 2012 and all $419.7 million outstanding 8 7/8% senior notes due 2013 on Dec. 19.

Holders of the floating-rate notes will receive $1,020 per $1,000 principal amount of the notes plus paid interest up to, but not including, Dec. 19. Holders of the 8 7/8% notes will receive par plus the applicable premium and interest up to, but not including, Dec. 19.

The company also announced that Dobson Cellular Systems, Inc., a subsidiary of Dobson Communications, will redeem all of its $325 million outstanding 9 7/8% second-priority senior secured notes due 2012, its $250 million outstanding 8 3/8% first-priority senior secured notes due 2011 and the $250 million outstanding 8 3/8% series B first-priority senior secured notes due 2011 on Dec. 19. Holders of both series of notes will receive par plus the applicable premium and interest up to, but not including, Dec. 19.

The company also said its subsidiary, American Cellular Corp., will redeem its $185.7 million outstanding 10% senior notes due 2011 and its $18.1 million outstanding 9½% senior subordinated notes due 2009 on Dec. 19. Holders of the 10% notes will receive $1,050 per $1,000 principal amount of the notes plus interest up to, but not including, Dec. 19. Holders of the 9½% notes will receive $1,015.83 per $1,000 principal amount of the notes plus interest up to, but not including, Dec. 19.

Oklahoma City-based Dobson Communications is a provider of wireless communications services for rural and suburban areas.

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