Deutsche Telekom selling $3.1B worth of T-Mobile USA bonds

|About: Deutsche Telekom AG ADR (DTEGY)|By:, SA News Editor

Deutsche Telekom (DTEGY.PK) is selling $3.1B worth of T-Mobile USA (TMUS -0.4%) bonds in its possession. The debt, which DT obtained through the MetroPCS deal, consists of 2019 and 2021 notes worth $1.25B apiece, and 2023 notes worth $600M.

DT, which (like many European carriers) is saddled with a huge debt load, only says it will use the proceeds for general corporate purposes. T-Mobile USA had $9B in debt on its balance sheet at the end of Q2, and $2.4B in cash/investments.