BELLEVUE, Wash.-VoiceStream Wireless Corp. announced it raised about $1.5 billion in proceeds from the issuance of 10.375-percent senior notes and 11.875-percent senior discount notes.
The 10.375-percent senior notes due 2009 were issued at par, raising $1.1 billion. Approximately $720 million of the 11.875-percent senior discount notes due 2009 were issued at 56.061 percent of their principal amount, yielding gross proceeds of about $403.6 million. They will accrete to their principal amount on Nov. 15, 2004, and thereafter will accrue interest at 11.875 percent, VoiceStream said.
A portion of the proceeds from the sale of the notes has been used to repay $400 million principal amount of VoiceStream’s 12-percent senior debentures due 2011, with the balance to be used for working capital and general corporate purposes, the company said.
