CHICAGO, May 19, 2011 /PRNewswire/ -- United States
Cellular Corporation (NYSE: USM) today announced that it will
redeem all of its outstanding 7.5 percent Senior Notes due 2034
(NYSE: UZV). The $330 million
aggregate principal amount of outstanding notes will be redeemed
June 20, 2011, at a redemption price
of 100 percent of the principal amount ($25.00), together with accrued and unpaid
interest to the redemption date. The final regularly
scheduled interest payment will be made on June 15, 2011. Accrued interest in the
aggregate of approximately $344,000
will be paid for the period from June 15,
2011 to June 20, 2011 as part
of the redemption on June 20, 2011.
As a result, the aggregate redemption amount of principal and
accrued interest will be approximately $330.3 million. The redemption agent is The Bank
of New York Mellon Trust Company, N. A.
Additional information will be included in a Form 8-K to be
filed with the Securities and Exchange Commission. A notice of
redemption with instructions is being distributed to registered
holders of the notes. Beneficial holders with any questions about
the redemption should contact their respective brokerage firm or
financial institution that holds notes on their behalf.
About U.S. Cellular
United States Cellular Corporation, the nation's sixth-largest
wireless carrier, provides a comprehensive range of wireless
products and services, excellent customer support, and a
high-quality network to approximately six million customers in 26
states. The Chicago-based company
employed approximately 9,000 full-time equivalent associates as of
March 31, 2011. At the end of the
quarter, Telephone and Data Systems, Inc. owned 83 percent of U.S.
Cellular.
Visit uscellular.com for comprehensive financial information,
including earnings releases, quarterly and annual filings,
shareholder information and more.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: All information set forth in this news
release, except historical and factual information, represents
forward-looking statements. This includes all statements about the
company's plans, beliefs, estimates, and expectations. These
statements are based on current estimates, projections, and
assumptions, which involve certain risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Important factors that may affect these
forward-looking statements include, but are not limited to: The
ability of the company to successfully manage and grow its markets;
the economy; competition; the state and federal telecommunications
regulatory environment; the value of assets and investments;
adverse changes in the ratings afforded our debt securities by
accredited ratings organizations; industry consolidation; advances
in telecommunications technology; uncertainty of access to the
capital markets; pending and future litigation; changes in income
tax rates, laws, regulations or rulings; acquisitions/divestitures
of properties and/or licenses; changes in customer growth rates,
average monthly revenue per unit, churn rates, roaming revenue and
terms, the availability of handset devices, or the mix of products
and services offered by the company; and the ability to obtain or
maintain roaming arrangements with other carriers. Investors are
encouraged to consider these and other risks and uncertainties that
are discussed in documents used by U.S. Cellular to furnish to the
SEC.
SOURCE United States Cellular Corporation