Telephone and Data Systems Announces New Perpetual Preferred

Telephone and Data Systems (TDS) has announced that they will be selling a new issue of preferred stock.

The issue will have a optional redemption date in September, 2026 and will be cumulative and qualified.

They will be calling the 6.625% Senior Notes (TDI) which was previously announced.

TDS has other baby bonds and preferred issues outstanding including a 6.625% preferred issued in February which has traded as high at $29 in recent times. The outstanding issues can be seen here.

The preliminary prospectus can be read here.

J was right on this one and EarlyBird posits yield talk in the 6.0 to 6.125% area.

10 thoughts on “Telephone and Data Systems Announces New Perpetual Preferred”

      1. Chuck – it will pop up here the moment a temp symbol is assigned:

        https://otce.finra.org/otce/dailyList?viewType=Additions

        I should be tradable tomorrow. Sometimes first thing; sometimes not until lkater. It has to “break syndicate” before you can trade it (unless your broker is on the inside) and then it often takes brokers some time to get the symbol up and tradable on their platform.

        Perhaps some of the insiders here have better answers.

          1. WOW, over 5.9 Million shares have already traded this morning. Trading between $24.99 and $25.00. Would love to hear from the financial gurus here on this site as to their unbiased opinion on this company. I did read their most recent quarterly and browsed thru their most recent annual but I freely admit Iam NO CPA . I always thought the point of this site was to share ideas as to WHY we like or dislike something. Some of us do very serious deep dive research and some don’t and some just simply don’t have the time as they have jobs. I like this company and own 6,409 shares of the TDS+U but would love some input from others if possible. They have 6 million customers and are in the Fortune 1000 according to their own website.

    1. Because it’s a 4.65 ytc and par TDS new issue is talking 6.

      U came out showing 6 5/8 I couldn’t believe they printed there. Me hopes this prints at the 6% prelims PT

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