LAKE CHARLES, La.-Sprint PCS affiliate US Unwired Inc. said it intends to offer $125 million of first-priority senior secured floating rate notes due 2010 and $160 million of second-priority senior secured notes due 2012. Net proceeds from the offering together with cash balances will be used to retire the carrier’s existing senior secured credit facility and to purchase its 13.375-percent senior subordinated discount notes tendered in an offering announced May 13.
US Unwired noted the 2010 and 2012 notes would be senior secured obligations of the carrier and unconditionally guaranteed on a senior secured basis by all of US Unwired’s current subsidiaries except IWO Holdings Inc.
