T-Mobile on Tuesday launched a public offering of $1 billion in senior notes in its latest effort to raise funds for more spectrum.
While the Un-carrier has previously focused its efforts on securing approximately $4 billion to spend in the FCC’s 600 MHz incentive auction, T-Mobile has a different plan for this latest batch of funds.
According to Tuesday’s release, T-Mobile is aiming to use the money particularly for the purchase additional 700 MHz A-block spectrum, though the Un-carrier noted some of the cash may go to “other spectrum purchases.”
Though T-Mobile was mum on where it plans to get the new airwaves, the move to snatch up more 700 MHz spectrum seems to have become a critical part of the Un-carrier playbook.
In a recent SEC filing, the Un-carrier said it spent $600 million in January alone on spectrum licenses covering nearly 20 million people in seven major metropolitan markets.
T-Mobile also said it spent an additional $700 million in January and February on deals with multiple third parties to exchange certain spectrum licenses and secure more 700 MHz A-Block spectrum licenses. Those licenses cover around 48 million people, T-Mobile said.
Earlier this month, T-Mobile CFO Braxton Carter said the Un-carrier is aiming to add 30 million to 40 million new POPs through the continued roll out of its newly acquired 700 MHz spectrum assets.
In addition to providing expanded coverage, Carter said the deployment of 700 MHz spectrum has also helped produce “better retention characteristics.”
Filed Under: Telecommunications (Spectrum)
