NEW YORK—Cingular Wireless completed the sale of $2 billion of global bonds, which the carrier said it would use to pay down short-term debt, finance licenses and construction related to the possible acquisition of NextWave Telecom Inc.’s licenses and to fund its network sharing agreement with VoiceStream Wireless Corp.
The sale included $500 million of 5.625-percent five-year notes, $750 million of 6.5-percent 10-year notes and $750 million of 7.125-percent 30-year bonds. Standard & Poor’s investment services gave the offering it’s a-plus rating with a stable outlook, while Moody’s Investor Services gave the offering its A3 rating with a negative outlook.
Cingular went through with the offering days after placing $4 billion in infrastructure orders with a trio of European providers for the GSM overlay of its TDMA network.
