MetroPCS Communications, Inc. PCS today announced that MetroPCS Wireless, Inc., an indirect
wholly-owned subsidiary ("Wireless"), has commenced a consent solicitation
seeking consent to amend the indentures governing Wireless's 7 7/8% Senior
Notes due 2018 (the "2018 Notes") and its 6 5/8% Senior Notes due 2020 (the
"2020 Notes", and together with the 2018 Notes, the "Notes") in connection
with the proposed business combination under the terms of that certain
Business Combination Agreement, dated October 3, 2012 (the "Business
Combination Agreement"), by and among Deutsche Telekom AG, an
Aktiengesellschaft organized in Germany ("Deutsche Telekom"), T-Mobile Global
Zwischenholding GmbH, a Gesellschaft mit beschrankter Haftung organized in
Germany and a direct wholly-owned subsidiary of Deutsche Telekom ("Global"),
T-Mobile Global Holding GmbH, a Gesellschaft mit beschrankter Haftung
organized in Germany and a direct wholly-owned subsidiary of Global
("Holding"), T-Mobile USA, Inc., a Delaware corporation and direct
wholly-owned subsidiary of Holding ("T-Mobile"), and the Company.
The proposed amendments to the indentures governing the Notes seek to modify
the definition of a "Change of Control" in each indenture governing the Notes
so that the consummation of the proposed business combination would not be
considered a Change of Control under the indentures, and to conform certain
covenants, events of default and other non-economic terms currently applicable
to the Notes to certain covenants, events of default and other non-economic
terms that are anticipated to apply to certain notes to be sold by T-Mobile to
Deutsche Telekom and to certain new notes that may be issued by Wireless and
assumed by T-Mobile upon consummation of the business combination under the
terms of the Business Combination Agreement. The relevant terms and conditions
of the consent solicitation are set forth in a Consent Solicitation Statement,
dated December 5, 2012, and a related Consent Letter.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in