CHICAGO, Sept. 14, 2021 /PRNewswire/ -- Telephone and
Data Systems, Inc. (NYSE: TDS) today announced that it will redeem
all of its outstanding 5.875% Senior Notes due 2061 (NYSE: TDA)
(the "TDA Notes"). The $195
million aggregate principal amount of outstanding TDA Notes
will be redeemed October 14, 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.
"After the successful completion of our recent preferred
offering, we are opportunistically redeeming this debt to realize
additional interest savings, as we now have ample liquidity to fund
our fiber expansion," said Peter L.
Sereda, TDS executive vice president and chief financial
officer.
A notice of redemption with instructions is being distributed to
registered holders of the notes. Beneficial holders with any
questions about the redemption should contact their respective
brokerage firm or financial institution that holds notes on their
behalf.
About TDS
Telephone and Data Systems, Inc. (TDS), a
Fortune 1000® company, provides wireless; broadband, video and
voice; and hosted and managed services to approximately 6
million connections nationwide through its businesses, UScellular,
TDS Telecom, and OneNeck IT Solutions. Founded in 1969 and
headquartered in Chicago, TDS
employed approximately 8,900 associates as of June 30, 2021.
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: intense
competition; the ability to obtain or maintain roaming arrangements
with other carriers on acceptable terms; the ability to obtain
access to adequate radio spectrum to meet current or anticipated
future needs, including participation in FCC auctions; the ability
to attract people of outstanding talent throughout all levels of
the organization; TDS' smaller scale relative to larger
competitors; changes in demand, consumer preferences and
perceptions, price competition, or churn rates; advances in
technology; impacts of costs, integration problems or other factors
associated with acquisitions, divestitures or exchanges of
properties or wireless spectrum licenses and/or expansion of TDS'
businesses; the ability of the company to successfully construct
and manage its networks; difficulties involving third parties;
uncertainties in TDS' future cash flows and liquidity and access to
the capital markets; the ability to make payments on TDS and
UScellular indebtedness or comply with the terms of debt covenants;
conditions in the U.S. telecommunications industry; the value of
assets and investments; the state and federal regulatory
environment; pending and future litigation; cyber-attacks or other
breaches of network or information technology security; disruption
in credit or other financial markets; deterioration of U.S. or
global economic conditions; the impact, duration and severity of
public health emergencies, such as the COVID-19 pandemic. Investors
are encouraged to consider these and other risks and uncertainties
that are more fully described under "Risk Factors" in the most
recent filing of TDS' Form 10-K, as updated by any TDS Form 10-Q
filed subsequent to such Form 10-K.
For more information about TDS and its subsidiaries, visit:
TDS: www.tdsinc.com
UScellular: www.uscellular.com
TDS Telecom: www.tdstelecom.com
OneNeck IT Solutions: www.oneneck.com
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SOURCE Telephone and Data Systems, Inc.
