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United States Cellular Corporation (NYSE: USM) will redeem its outstanding 6.95% Senior Notes due 2060, totaling $342 million, on September 1, 2021. The redemption price is set at 100% of the principal amount, plus accrued interest. This move utilizes a recently upsized $450 million EIP securitization facility, aimed at lowering borrowing costs and enabling further investments in 5G technology. Peter L. Sereda, CFO, highlighted that these cost savings will facilitate future investments.
