T-Mobile to Sell $3.8 Billion of Bonds to Buy 5G Spectrum (3)

T-Mobile US Inc. is selling $3.8 billion of bonds, up from an original $3 billion, to help finance the purchase of new high-speed spectrum licenses as carriers roll out the next generation of mobile devices.

The company’s notes are due in 2026, 2029 and 2031, according to a statement Tuesday. It’ll use $2 billion of the proceeds to buy spectrum licenses, with the remainder to refinance debt starting with its 6.5% notes due 2026.

The company brought $1.2 billion of five-year bonds at a yield of 2.625%, $1.25 billion of eight-year bonds at a yield of 3.375% and $1.35 billion ...