AT&T Inc. (NYSE: T) (“AT&T”) announced the commencement of private offers to (i) exchange (the “Pool 1 Offer”) twenty-five series of notes issued by AT&T and certain of AT&T’s wholly-owned subsidiaries (collectively, the “Pool 1 Notes”) for a combination of cash and a new series of AT&T’s senior notes to be due in 2053 (the “New 2053 Notes”) as described in, and for the consideration summarized in, the table below. The aggregate principal amount of Pool 1 Notes that are accepted for exchange will be based on the order of acceptance priority for such series as set forth in the table below, and such that the aggregate principal amount of Pool 1 Notes accepted in the Pool 1 Offer results in the issuance of New 2053 Notes in an amount not exceeding $5,000,000,000 (the “2053 Notes Cap”);
(1) Rounded to the nearest tenth of a million.
(2) The early participation payment for the Pool 1 Offer will be $50 of principal amount of New 2053 Notes per $1,000 principal amount of Pool 1 Notes and is included in the total consideration.
(3) The cash payment percent of premium is the percent of the amount by which the total consideration exceeds $1,000 in principal amount and cash per $1,000 principal amount of such Old Notes.
(4) New Cingular Wireless Services, Inc. was formerly known as AT&T Wireless Services, Inc.
(5) The 8.750% Senior Notes due November 15, 2031 are fully, unconditionally and irrevocably guaranteed by AT&T. The initial interest rate on the 8.750% Senior Notes due November 15, 2031 was 8.000%.
(6) References to Historic TW refer to Historic TW Inc., the successor in interest to Time Warner Companies Inc.
(7) References to Time Warner refer to Warner Media, LLC, the successor in interest to Time Warner Inc.
(8) AT&T Mobility LLC was formerly known as Cingular Wireless LLC.
(9) The 6 7/8% Notes due 2031, 6.550% Notes due 2034, and 6.00% Notes due 2034 were originally issued by BellSouth Corporation, which subsequently converted to BellSouth, LLC.
*Denotes a series of Old Notes for which the total consideration and exchange consideration will be determined taking into account the par call date, instead of the maturity date, in accordance with standard market practice.
Source: https://about.att.com/story/2020/att_debt_exchange_offers.html