DALLAS, Dec. 17, 2012 /PRNewswire/ -- MetroPCS Communications, Inc. (NYSE: PCS; "MetroPCS") today announced that MetroPCS Wireless, Inc., an indirect wholly-owned subsidiary ("Wireless"), has received sufficient consents to approve the amendments to the indentures governing its 7 7/8% Senior Notes due 2018 (the "2018 Notes") and its 6 5/8% Senior Notes due 2020 (the "2020 Notes", and together with the 2018 Notes, the "Notes"), which were sought in Wireless' previously announced consent solicitation seeking consent to amend the indentures governing the Notes. (Logo: http://photos.prnewswire.com/prnh/20121029/MM02011LOGO) The consent solicitation expired at 5:00 p.m., New York City time, on Friday, December 14, 2012. Wireless will promptly pay, in accordance with the terms of the Consent Solicitation Statement, dated December 5, 2012, a consent fee consisting of: (i) an aggregate cash payment of $5,000,000, payable to consenting holders of the 2018 Notes on a pro rata basis upon the effectiveness of a revised supplemental indenture with respect to the 2018 Notes effecting the proposed amendments, and (ii) an aggregate cash payment of $5,000,000, payable to consenting holders of the 2020 Notes on a pro rata basis upon the execution and effectiveness of a revised supplemental indenture with respect to the 2020 Notes effecting the proposed amendments. On December 14, 2012, the supplemental indentures incorporating the amendments, as described in the Consent Solicitation Statement, dated December 5, 2012, have been executed by Wireless, the guarantors of the Notes and the trustee for the Notes. The supplemental indentures provide for immediate effectiveness of the amendments to the terms of the Notes. MacKenzie Partners, Inc. acted as Information and Tabulation Agent in connection with the consent solicitation and J.P. Morgan Securities LLC acted as Solicitation Agent.
MetroPCS Communications (NYSE:PCS) hit a new 52-week high Thursday as it is currently trading at $16.62, above its previous 52-week high of $14.51 with 155,204 shares traded as of 9:31 a.m. ET. Average volume has been 10.6 million shares over the past 30 days.