Telephone and Data Systems, Inc. (NYSE: TDS) today announced that it will redeem all of its outstanding 6.875 percent Senior Notes due 2059 (NYSE: TDE) (the "TDE Notes") and its 7 percent Senior Notes due 2060 (NYSE: TDJ) (the "TDJ Notes"). The $225 million aggregate principal amount of outstanding TDE Notes and the $300 million aggregate principal amount of outstanding TDJ Notes will be redeemed May 12, 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 Trust Company, N.A., c/o The Bank of New York Mellon, 111 Sanders Creek Parkway, East Syracuse, New York 13057, Attn: Bond Redemption Unit.
TDS (TDS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Telephone And Data Systems Inc (NYSE: TDS) priced 16 million depositary shares at $25 per share to raise $400 million in a preferred share offering. The underwriters have a 30-day option to procure an additional 2.4 million depositary shares. The offering is expected to close by March 2, 2021. The company intends to list the depositary shares under the ticker symbol “TDSPrU” on the NYSE. TDS will utilize the offering proceeds for general corporate purposes includes capital expenditures funding associated with the fiber-to-the-home program in new markets. BofA Securities, Citigroup Global Markets, Morgan Stanley, RBC Capital Markets, UBS Securities, and Wells Fargo Securities, LLC are the joint book-running managers for the offering. TDS share prices have lost 22% in the last six months. Price action: TDS shares are marginally higher by 0.08% at $18.16 on the last check Wednesday. See more from BenzingaClick here for options trades from BenzingaAccenture, Microsoft Extend Partnership To Support UK Clean Energy TransitionIndia Lures Computer Producers From China With B Incentive: WSJ© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.