TELEPHONE & DATA SYSTEMS INC /DE/ (TDS): debt financing — TDS enters $150M unsecured term loan facility with Export Development Canada to finance Nokia purchases

TELEPHONE & DATA SYSTEMS INC /DE/

$150 million term loan facility to finance/refinance purchases of goods and services from Nokia OYJ.
Borrowings bear interest at SOFR or alternative base rate plus applicable margin, at TDS' option.
Financial covenants: consolidated interest coverage ratio >= 3.00x; consolidated leverage ratio <= 3.75x.
Loan is unsecured; certain subsidiaries are guarantors; change in control triggers default and repayment.
Borrowings must be made by April 9, 2023; maturity is five years from first borrowing.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TELEPHONE & DATA SYSTEMS INC /DE/ incurred term loan of $150 million with Export Development Canada at secured overnight financing rate (SOFR) or at an alternative base rate, plus, in maturing five year anniversary of the first borrowing.

Instrument: term loan
Principal: $150 million
Counterparty: Export Development Canada
Rate: secured overnight financing rate (SOFR) or at an alternative base rate, plus, in
Maturity: five year anniversary of the first borrowing
Event: incurrence

Exact text from the filing

On November 9, 2022 (Effective Date), Telephone and Data Systems, Inc. (TDS) entered into a $150 million Credit Agreement (Credit Agreement) by and between TDS as Borrower and Export Development Canada as Lender.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TELEPHONE & DATA SYSTEMS INC /DE/ entered into Credit Agreement with Export Development Canada valued at $150 million (effective 2022-11-09).

Action: entry
Agreement: credit facility
Counterparty: Export Development Canada
Value: $150 million
Effective: 2022-11-09

Exact text from the filing

On November 9, 2022 (Effective Date), Telephone and Data Systems, Inc. (TDS) entered into a $150 million Credit Agreement (Credit Agreement) by and between TDS as Borrower and Export Development Canada as Lender.

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

TELEPHONE & DATA SYSTEMS INC /DE/ filing history →

Source: SEC EDGAR

accession 0001051512-22-000065

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