U.S. Cellular announces offering of up to $200 million $25-par senior notes due 2063

By Stephanie N. Rotondo

Phoenix, Dec. 1 – United States Cellular Corp. plans to price at least $200 million of $25-par senior unsecured notes due Dec. 1, 2063 (expected ratings: Ba1/BB/BB+), according to a prospectus filed with the Securities and Exchange Commission on Monday.

Price talk is in a 7.25% to 7.375% context.

BofA Merrill Lynch, Morgan Stanley & Co. LLC, RBC Capital Markets, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunning managers.

Co-managers include Citigroup Global Markets Inc., BNY Mellon Capital Markets LLC, Comerica Securities, TD Securities and U.S. Bancorp Investments Inc.

Interest will be payable on the first day of March, June, September and December, beginning in March 2015. The notes become redeemable at par plus accrued interest in 2019.

Proceeds will be used for general corporate purposes.

The Chicago-based wireless telecommunications services provider intends to list the securities on the New York Stock Exchange under the ticker symbol “UZB.”

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