CHICAGO, Nov. 17, 2015 /PRNewswire/ -- United States
Cellular Corporation (NYSE: USM) announced today that it sold
$300 million of 7.25 percent Senior
Notes due 2064. The notes are callable at par on and after
Dec. 1, 2020. Closing, subject
to customary closing conditions, is expected to occur on
Nov. 23, 2015.
The notes are expected to be listed on the New York Stock
Exchange under the symbol "UZC."
Following completion of the offering, U.S. Cellular expects to
use the net proceeds for general corporate purposes, including
potential spectrum purchases.
U.S. Cellular intends to file a final prospectus supplement with
the Securities and Exchange Commission related to the offering. The
prospectus supplement relates to the shelf registration statement
filed by U.S. Cellular on May 1,
2015, and declared effective on May
8, 2015, which registered up to $500
million of debt securities for offer and sale by U.S.
Cellular from time to time.
BofA Merrill Lynch, Morgan Stanley, RBC Capital Markets, Wells
Fargo Securities and UBS Investment Bank were joint book-running
managers.
The offering is being made only by means of the prospectus
supplement and the accompanying prospectus. You may get these
documents for free by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, you may request it by contacting
Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at
1-800-294-1322 or e-mail dg.prospectus_requests@baml.com; or Morgan
Stanley & Co. LLC toll-free at 1-800-584-6837; or RBC Capital
Markets, LLC toll-free at 1-866-375-6829; or UBS Securities LLC
toll-free at 1-888-827-7275; or Wells Fargo Securities, LLC
toll-free at 1-800-645-3751 or e-mail
wfscustomerservice@wellsfargo.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
About U.S. Cellular
United States Cellular Corporation
provides a comprehensive range of wireless products and services,
excellent customer support, and a high-quality network to 4.8
million customers in 23 states. The Chicago-based company had 6,400 full- and
part-time associates as of Sept. 30,
2015. At the end of the third quarter of 2015, Telephone and
Data Systems, Inc. owned 84 percent of U.S. Cellular. For more
information about U.S. Cellular, visit uscellular.com.
Visit uscellular.com for comprehensive financial information,
including earnings releases, quarterly and annual filings,
shareholder information and more.
Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995: All
information set forth in this news release, except historical and
factual information, represents forward-looking statements. This
includes all statements about the company's plans, beliefs,
estimates, and expectations. These statements are based on current
estimates, projections, and assumptions, which involve certain
risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Important
factors that may affect these forward-looking statements include,
but are not limited to: impacts of any pending
acquisitions/divestitures/exchanges of properties and/or
licenses, including, but not limited to, the ability to
obtain regulatory approvals, successfully complete the transactions
and the financial impacts of such transactions; the ability of the
company to successfully manage and grow its markets; the overall
economy; competition; the ability to obtain or maintain roaming
arrangements with other carriers on acceptable terms; the state and
federal telecommunications regulatory environment; the value of
assets and investments; adverse changes in the ratings afforded
U.S. Cellular debt securities by accredited ratings organizations;
industry consolidation; advances in telecommunications technology;
uncertainty of access to the capital markets; pending and
future litigation; changes in income tax rates, laws, regulations
or rulings; changes in customer growth rates, average monthly
revenue per user, churn rates, roaming revenue and terms, the
availability of wireless devices, or the mix of products and
services offered by U.S. Cellular. Investors are encouraged to
consider these and other risks and uncertainties that are discussed
in the Form 8-K Current Report used by U.S. Cellular to furnish
this press release to the Securities and Exchange Commission
("SEC"), which are incorporated by reference
herein.
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SOURCE U.S. Cellular