Telephone & Data Systems plans debt sale
Telephone & Data Systems Inc., a telecommunications services provider, plans to sell $200 million of 49-year notes that will be non-callable for five years, according to a person familiar with the transaction.
The Chicago-based company may issue the notes as soon as today, said the person, who declined to be identified because terms aren't set. The debt may yield 6.875 percent to 7 percent, the person said.
The bonds may be rated Baa2 by Moody's Investors Service and BBB- by Standard & Poor's, the person said.
Telephone & Data plans to use proceeds to redeem its 7.6 percent notes due in 2041, according a regulatory filing today, which didn't specify the size, timing or maturity of the sale.
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