AT&T Inc. Announces Additional Early Repayment of Debt
June 24 2020 - 5:13PM
Business Wire
Company maintains commitment to high-quality
debt metrics
AT&T Inc.
(NYSE: T) continues to
proactively manage its capital structure and reduce upcoming
maturity towers.
AT&T has issued notices for the redemption in full of all
the outstanding principal amount of six series of bonds totaling
approximately $4.3 billion and prepayment of term loans totaling
$1.0 billion. The total principal of these prepayments is
approximately $5.3 billion. When combined with recently announced
repayment activity, and anticipated continued strong cash flow, the
company’s future near-term debt maturity towers are very
manageable.
This series of transactions is consistent with AT&T’s plans
to continue improving its credit quality even as it remains
committed to paying a dividend to its shareholders and investing in
its growth areas — fiber, 5G and HBO Max. For full-year 2020,
AT&T expects its dividend payout of free cash flow ratio will
be in the 60% range. This gives the company the flexibility to
continue to reduce its debt levels during 2020.
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
and the prospectus and preliminary prospectus supplement related to
the Offering. AT&T disclaims any obligation to update or revise
statements contained in this news release based on new information
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200624005836/en/
Fletcher Cook AT&T Inc. Phone: 214-912-8541 Email:
fletcher.cook@att.com Daphne Avila AT&T Inc. Phone: (972)
266-3866 Email: daphne.avila@att.com
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