AT&T Private Offer To Exchange 9 Series Of Notes Expired

AT&T Inc. (NYSE: T) revealed the expiration of its private offers to the nine series of notes for a new series of its senior notes to be due in 2048 (the "New 2048 Notes") and cash, as applicable. The offer expired on September 1 midnight.

The telecom service provider said that the exchange offers were conducted based on the terms and subject to the conditions contained in the Offering Memorandum and the related letter of transmittal. The company expects to accept the notes validly tendered and not withdrawn.

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AT&T said that on the settlement date, it would deliver an aggregate principal amount of approximately $4.5 billion of "New 2048 Notes" and an aggregate principal amount of $2.5 billion of "New 2049 Notes" plus a cash payment.

The company's cash payment in respect of premium offered on its 6.550 percent and 6.0 percent Notes due 2034 issued by BellSouth, LLC. Also included in the cash component is the unpaid and accrued interest on the Old Notes apart from the fractional amounts of New Notes.

AT&T stock edged up by $0.02, or 0.05 percent, to $40.98 at time of writing.