m_and_a
confidence high
sentiment neutral
materiality 0.80
US Cellular enters supplemental indentures modifying note covenants contingent on T-Mobile deal close
ARRAY DIGITAL INFRASTRUCTURE, INC.
- Amendments to 6.700% 2033, 6.250% 2069, 5.500% 2070 (March & June) notes.
- Covenant deletions include limitations on secured debt, sale-leaseback, and merger restrictions.
- Redemption notice periods shortened; defeasance conditions relaxed for notes called for redemption.
- Amendments become operative only upon closing of T-Mobile acquisition of US Cellular's wireless ops.
- If settlement of exchange offers doesn't occur within 5 business days post-close, amendments void.
item 1.01item 3.03item 9.01