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Stock impact report

UScellular Announces Redemption Of 6.95 Percent Senior Notes Due 2060

United States Cellular Corporation (USM) 
Last united states cellular corporation earnings: 4/30 04:05 pm Check Earnings Report
Company Research Source: PR Newswire
CHICAGO, Aug. 2, 2021 /PRNewswire/ -- United States Cellular Corporation (NYSE: USM) today announced that it will redeem all of its outstanding 6.95 percent Senior Notes due 2060 (NYSE: UZA).  The $342 million aggregate principal amount of outstanding notes will be redeemed September 1, 2021, at a redemption price of 100 percent of the principal amount ($25 face value per unit), together with accrued and unpaid interest to the redemption date. The paying agent is The Bank of New York Mellon."Utilizing UScellular's recently upsized $450M EIP securitization facility for the redemption of these notes, we continue to build on the progress already made towards lowering the average rate paid on our borrowings, which remains a top Treasury priority this year," said Peter L. Sereda, TDS executive vice president and chief financial officer. "The cost savings generated through these redemptions will enable additional opportunities for UScellular to invest in 5G."A notice of redemption with inst Show less Read more
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