AT&T Inc. Announces Early Participation And Consent Results In Cash Tender Offers
DALLAS, May 16, 2019 /PRNewswire/ -- AT&T Inc. (NYSE: T) ("AT&T") announced today that, as of 5:00 p.m., New York City time, on May 15, 2019 (the "Early Tender Date"), the aggregate principal amount of each series of notes listed in the table below (collectively, the "Notes") issued by Warner Media, LLC or Historic TW Inc. had been validly tendered and not validly withdrawn in connection with AT&T's previously announced offers to purchase for cash all validly tendered (and not validly withdrawn) and accepted Notes of each such series, and the related solicitation of consents to amend the indentures governing the Notes.
Series of Notes to be
Issuer
CUSIP Number
Aggregate Principal
Aggregate Principal
Percentage of
Purchased Amount Tendered Amount of Total Outstanding
as of the Early Consents Received Principal Amount
Tender Date as of the Early of such Series of
Tender Date(4) Notes With
Respect to Which
Consents Were
Received(4)
---
9.15% Debentures due
Historic TW(2)
887315AM1 $39,899,000 $165,817,000 58.85%
2023(1)
7.57% Debentures due
Historic TW(2)
887315BH1 $32,288,000 $86,456,000 63.52%
2024(1)
6.85% Debentures due
Historic TW(2)
887315BB4 $5,208,000 $5,233,000 24.03%
2026
6.95% Debentures due
Historic TW(2)
887315BM0 $43,349,000 $87,150,000 51.26%
2028(1)
6 5/8% Debentures due
Historic TW(2)
887315BN8 $116,023,000 $306,063,000 76.07%
2029(1)
7.625% Debentures due
Time Warner(3)
00184AAC9 $114,067,000 $291,302,000 58.67%
2031(1)
7.700% Debentures due
Time Warner(3)
00184AAG0 $96,388,000 $230,033,000 56.45%
2032(1)
8.30% Discount
Historic TW(2)
887315AZ2 $637,000 $1,331,000 0.84%
Debentures due 2036
6.50% Debentures due
Time Warner(3)
887317AD7 $141,416,000 $301,668,000 76.89%
2036(1)
(1) The requisite consents for
adopting the proposed amendments
to the applicable indenture were
received for this series of
Notes. Consents received in the
Offers (as defined below) and in
the previously announced
concurrent offers by AT&T to
exchange (the "Concurrent
Exchange Offers") the Notes for
new notes issued by AT&T have
been combined.
(2) References to Historic TW
refer to Historic TW Inc., the
successor in interest to Time
Warner Companies Inc.
(3) References to Time Warner
refer to Warner Media, LLC, the
successor in interest to Time
Warner Inc.
(4) Reflects consents received
with respect to the applicable
series of Notes in the Offers
plus consents received with
respect to the applicable series
of Notes in the Concurrent
Exchange Offers.
The offers to purchase for cash and consent solicitations (together, the "Offers") are being 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 Offers will expire at 9:00 a.m., New York City time, on May 31, 2019. In accordance with the terms of the Offers, the withdrawal deadline and the deadline to revoke consents to amend the indentures governing the Notes (the "Consent Revocation Deadline") relating to the Offers occurred at 5:00 p.m., New York City time, on May 15, 2019. As a result, tendered Notes may no longer be withdrawn, and consents to the proposed amendments to the indentures governing the Notes may no longer be revoked, except in certain limited circumstances where additional withdrawal rights are required by law (as determined by AT&T).
Questions concerning the terms of the Offers should be directed to the following dealer managers:
BofA Merrill Lynch
Deutsche Bank Securities
J.P. Morgan
214 North Tryon Street, 21st Floor 60 Wall Street 383 Madison Avenue
New York, New York 10005
Charlotte, North Carolina 28255 Attention: Liability Management
New York, New York 10179
Attention: Liability Management Group
Group
Attention: Liability Management Desk
Collect: (212) 250-2955
Collect: (980) 683-3215 Toll-Free: (866) 627-0391
Collect: (212) 834-3424
Toll-Free: (888) 292-0070
Toll-Free: (866) 834-4666
Questions concerning tender procedures for the Notes and requests for additional copies of the Offer to Purchase and the Letter of Transmittal should be directed to the tender agent and information agent:
Global Bondholder Services
Corporation
By Facsimile (Eligible Institutions
By E-Mail:
By Mail or Hand:
Only): 65 Broadway-Suite 404
(212) 430-3775 or
contact@gbsc-usa.com New York, New York 10006
(212) 430-3779
This press release is not an offer to sell or a solicitation of an offer to buy any of the securities described herein. The Offers are being 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.
CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS
Information set forth in this news release contains forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
This press release is directed only at: (i) persons who are outside the United Kingdom; (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"); (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order; or (iv) any other persons to whom this press release can lawfully be communicated in circumstances where section 21(1) of the Financial Services and Markets Act 2000 does not apply, (all such persons together being referred to as "relevant persons"). This press release must not be acted on or relied on by persons who are not relevant persons.
Any investment activity to which this press release relates is reserved for relevant persons only and may only be engaged in by relevant persons.
For Holders of Notes, contact:
Global Bondholder Services Corporation
Phone: (866) 470-3900 (toll
free)
(212) 430-3774
(collect)
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SOURCE AT&T Inc.
