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U.S. Cellular plans to price offering of $25-par senior notes
By Marisa Wong
Los Angeles, May 10 – United States Cellular Corp. plans to price an offering of $25-par senior notes (Ba1/BB), according to a 424B5 filing with the Securities and Exchange Commission.
The deal will include a greenshoe.
BofA Securities, Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC and Wells Fargo Securities, LLC are the joint bookrunners.
The co-managers are BNY Mellon Capital Markets, LLC, CIBC World Markets Corp., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc.
Coupons are payable quarterly.
The notes are redeemable after five years.
The company plans to use a portion of the proceeds to redeem some or all of its $300 million of outstanding 7¼% senior notes due 2064 and the remainder, if any, for general corporate purposes.
The company plans to list the notes on the New York Stock Exchange under the symbol “UZF.”
U.S. Cellular is a Chicago-based telecom company.
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