AT&T Inc. Announces Final Results of Cash Tender Offers and Consent Solicitations
AT&T Inc. (NYSE: T) (“AT&T”) announced today the final results of its previously announced offers to purchase for cash all validly tendered (and not validly withdrawn) and accepted notes of each series listed in the table below (collectively, the “Notes”) issued by Warner Media, LLC or Historic TW Inc. and the related solicitation of consents to amend the indentures governing the Notes.
As of 9:00 a.m., New York City time, on May 31, 2019 (the “Expiration Date”), the aggregate principal amounts listed below of each series of Notes had been validly tendered and not validly withdrawn in connection with the offers to purchase for cash and consent solicitations (the “Offers”). The final settlement of the Offers is expected to take place on or about June 5, 2019 (the “Settlement Date”).
The Offers were made pursuant to the terms and conditions set forth in the Offer to Purchase, dated May 2, 2019, and the related Letter of Transmittal and Consent (the “Letter of Transmittal”).
The requisite consents were obtained to amend the indentures governing each series of Notes except with respect to the 6.85% Debentures due 2026 and the 8.30% Discount Debentures due 2036, and the supplemental indentures effecting the proposed amendments were entered into on May 21, 2019.
Based on the amount of Notes tendered in the Offers and in accordance with the terms of the Offers, AT&T expects to accept, on the Settlement Date, all of the Notes validly tendered and not validly withdrawn. Upon the terms and subject to the conditions set forth in the Offer to Purchase and the Letter of Transmittal, (i) holders who validly tendered and who did not validly withdraw Notes at or prior to 5:00 p.m., New York City time, on May 15, 2019 (the “Early Tender Date”), and whose Notes are accepted for purchase by AT&T, will receive the applicable Total Consideration (as defined in the Offer to Purchase) and (ii) holders who validly tendered Notes after the Early Tender Date but prior to the Expiration Date, and whose Notes are accepted for purchase by AT&T, will receive the applicable Total Consideration less the Early Tender Payment (as defined in the Offer to Purchase).
Questions concerning the terms of the Offers should be directed to the following dealer managers:
BofA Merrill Lynch Charlotte, North Carolina 28255 Collect: (980) 683-3215 |
Deutsche Bank Securities Collect: (212) 250-2955 |
J.P. Morgan New York, New York 10179 Attention: Liability Management Desk Collect: (212) 834-3424 Toll-Free: (866) 834-4666
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The tender agent and information agent for the Offers was:
By Facsimile (Eligible Institutions Only): |
Global Bondholder Services Corporation
By E-Mail: contact@gbsc-usa.com |
By Mail or Hand: |
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The Offers were made solely by the Offer to Purchase and the related Letter of Transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.
