AT&T Wireless Services Inc. reported the commencement of a solicitation of consent to certain indenture amendments relating to its senior notes in connection with the carrier’s pending acquisition by Cingular Wireless L.L.C.
The amendments, which were requested by Cingular, would clarify that AWS could convert to and exist as any organizational form in addition to a corporation following its acquisition by Cingular. In addition, the amendments would permit financial and other reports of Cingular or any other guarantor of the senior notes to be provided to holders of the notes issued under a 2002 indenture in lieu of financial and other reports of AWS.
The solicitation is being made to holders of AWS’ $1 billion in 7.350-percent senior notes due 2006, $3 billion in 7.875-percent senior notes due 2011, $2.5 billion in 8.750-percent senior notes due 2031, $250 million in 6.875-percent senior notes due 2005, $750 million in 7.5-percent senior notes due 2007 and $2 billion in 8.125-percent senior notes due 2012.
Cingular noted that its pending acquisition of AWS is not dependent on the success of the consent solicitation.
The solicitation is being handled by Citigroup Global Markets Inc. and is currently scheduled to expire Sept. 1 unless extended by AWS at the request of Cingular.
