LAKE CHARLES, La.-Sprint PCS affiliate US Unwired Inc. said it has priced an offering of $360 million aggregate principal amount of senior secured notes, consisting of $125 million of first-priority, senior-secured, floating-rate notes due in 2010 and $235 million of 10-percent second-priority, senior-secured notes due 2012.
The carrier noted the 2010 notes will bear interest at a rate equal to three-month LIBOR plus 425 basis points and are being offered to investors at a price of 100 percent of principal amount, while the 2012 notes are being offered to investors at a price of 99.326 percent of principal amount.
US Unwired also announced that its previously announced tender offer for $400 million outstanding face amount of its 13.375-percent senior subordinated discount notes due 2009 expired at 1 p.m. June 10 with a total of $235.8 million tendered in the offer. The carrier said it intends to accept for purchase and to pay for all of the tendered notes immediately following the closing of the offer.
