US Cellular (USM) has priced their new issue of baby bonds.
The issue prices at 5.50%. The issue is rated just below investment grade.
The company will use a portion of the proceeds from this new issue to call the 7.25% UZC baby bonds.
The new issue will have a ticker of UZF when it begins to trade in the next week or so. There is no OTC grey market trading as this is a debt issue. Investors desiring shares prior to exchange trading will need to call their brokers bond desk to see if shares can be secured.