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AT&T Inc. Announces Initial Results And Upsizing Of Pending Maximum Tender Offers

AT&T Inc. (NYSE:T)(“ AT&T”) announced today the early tender results for its previously announced tender offers (the “ Maximum Tender Offers”) to purchase for cash up to the Maximum Tender Amount (as defined below) of its debt securities listed in the table below (collectively, the “ Notes” and each a “ series” of Notes). In addition, AT&T has amended the Maximum Tender Offers to increase the Maximum Tender Amount announced on November 14, 2013 from $2,285,117,000 to $3,285,117,000 (the “ Maximum Tender Amount”) and to eliminate the series-specific cap previously applicable to the 5.20% Notes due 2016 and 5.625% Global Notes due 2016 (together, the “2016 Notes”). AT&T expects to purchase all 2016 Notes validly tendered. All other terms of the Maximum Tender Offers, as previously announced, remain unchanged. Between the Maximum Tender Offers, as amended hereby, and the related any and all tender offers that commenced on November 5, 2013 and were settled on November 14, 2013, AT&T commenced tender offers to purchase for cash certain debt securities in an aggregate principal amount of up to $5,000,000,000. The Maximum Tender Offers are being made solely pursuant to the offer to purchase and related letter of transmittal, each dated November 5, 2013 (as they may be amended or supplemented, the “ Tender Offer Documents”). AT&T refers investors to the Tender Offer Documents, as supplemented by the amendment noted above, for the complete terms of the Maximum Tender Offers.

As of the previously announced early tender date and time of 5:00 p.m., New York City time, on November 19, 2013 (the “ Early Tender Date”), $3,475,117,000 aggregate principal amount of Notes had been validly tendered and not validly withdrawn. Withdrawal rights for the Notes expired at 5:00 p.m., New York City time, on November 19, 2013. The table below sets forth the aggregate principal amount and percentage of Notes validly tendered and not validly withdrawn by the Early Tender Date. The final results of the Maximum Tender Offers will not be available until after the Maximum Tender Offers expire at 11:59 p.m., New York City time, on December 4, 2013, unless extended or earlier terminated (such date and time, as the same may be extended, the “ Maximum Tender Expiration Date”).

                 

Up to the Maximum Tender Amount of the Outstanding Notes Listed Below

 

Title of Security

 

CUSIP Number

 

Principal Amount Outstanding

 

Acceptance Priority Level

 

Fixed Spread (Basis Points)

 

U.S. Treasury Reference Security

 

Bloomberg Reference Page

 

Early Tender Premium (1)

 

Principal Amount Tendered at Early Tender Date

 

Percent Tendered of Amount Outstanding

5.20% Notes due 2016   079860AL6   $400,000,000   1   +55  

0.625% due10/15/16

  PX1   $30   $100,708,000   25.18%
5.625% Global Notes due 2016   78387GAL7   $1,250,000,000   2   +35  

0.625% due10/15/16

  PX1   $30   $400,525,000   32.04%
6.500% Global Notes due 2037   00206RAD4   $1,981,282,000   3   +185  

2.875% due5/15/43

  PX1   $30   $826,712,000   41.73%
6.300% Global Notes due 2038   00206RAG7   $2,750,000,000   4   +185  

2.875% due5/15/43

  PX1   $30   $931,512,000   33.87%
6.55% Global Notes due 2039   00206RAS1   $2,250,000,000   5   +185  

2.875% due5/15/43

  PX1   $30   $811,701,000   36.08%
6.450% Global Notes due 2034   78387GAM5   $491,219,000   6   +160  

2.875% due5/15/43

  PX1   $30   $84,854,000   17.27%
6.40% Global Notes due 2038   00206RAN2   $445,620,000   7   +180  

2.875% due5/15/43

  PX1   $30   $131,845,000   29.59%
6.150% Global Notes due 2034   78387GAQ6   $586,254,000   8   +160  

2.875% due5/15/43

  PX1   $30   $93,807,000   16.00%
7.125% Debentures due 2026   694032AT0   $625,000,000   9   +200  

2.500% due8/15/23

  PX1   $30   $93,453,000   14.95%

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