November 18, 2010 (FinancialWire) (http://www.financialwire.net/) — Telephone and Data Systems, Inc. (NYSE: TDS ) said that it has sold $200 million of 6.875 percent senior notes due 2059 and has granted the underwriters an option to purchase up to $30 million of additional notes. BofA Merrill Lynch (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo Securities (NYSE: WFC) and UBS Investment Bank were joint book-running managers.

According to TDS, the notes are callable at par on and after November 15, 2015. Closing is expected to occur on November 23, 2010.

The notes are expected to be listed on the New York Stock Exchange under the symbol "TDE".

TDS said it plans to use the net proceeds to redeem a portion of TDS' 7.6 percent series A notes due 2041, of which $500 million in aggregate principal amount is outstanding.

Illinois-based Telephone and Data Systems provides wireless, local and long-distance telephone and broadband services to around 7.2 million customers in 36 states through its business units, U.S. Cellular and TDS Telecom.

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