NEW YORK-Price Communications Wireless Inc., wholly owned subsidiary of Price Communications Corp., has announced redemption of its two investment-grade rated outstanding public notes, subject to terms of their indentures.
Price said the notes should be redeemed on August 1, 2002, in conjunction with the company’s sale to Verizon Wireless, expected to close July 31, 2002. The notes include 11 3/4 percent Series B Senior Subordinated Notes due 2007 in an aggregate principal amount of $175 million and 9 1/8 percent Series B Senior Secured Notes due 2006 in an aggregate principal amount of $525 million.
