Exhibit 99.1
NEWS RELEASE EASTERLY
INVESTOR RELATIONS
FOR IMMEDIATE RELEASE
Client: Alamosa PCS Holdings, Inc.
Contacts: Kendall Cowan, CFO
Alamosa PCS
806-722-1100
[email protected]
Ken Dennard, Managing Partner
Easterly Investor Relations
713-529-6600
[email protected]
ALAMOSA PCS HOLDINGS, INC ANNOUNCES
NEW $305 MILLION SENIOR SECURED CREDIT FACILITY
DECEMBER 20, 2000 - LUBBOCK, TEXAS - Alamosa PCS Holdings, Inc.
(NASDAQ:APCS), the 1999 Sprint PCS (NYSE:PCS) Affiliate of the Year, today
announced that it has received a joint commitment from Citicorp North
America Inc., Toronto Dominion Securities Inc., First Union National Bank,
and Export Development Corporation to establish new senior secured credit
facilities in an aggregate principal amount of $305 million. These
facilities will replace the existing senior secured debt facility of
Alamosa of $175 million and the $200 million commitment from Citicorp North
America Inc. for the previously announced acquisitions of Roberts Wireless
Communications (Roberts) and Washington Oregon Wireless (WOW).
"Being able to obtain these facilities under today's market
conditions bodes very well for Alamosa. This new facility simplifies our
corporate structure putting all senior secured borrowings under Alamosa PCS
Holdings, fully finances our pending acquisitions, and leaves us
with an over-funded financial business plan," commented Kendall Cowan,
Chief Financial Officer for Alamosa. "Alamosa continues to accomplish its
primary objectives of adding customers and launching markets. Upon the
completion of the WOW and Roberts acquisitions, we will be the largest
Sprint PCS Network Partner based on both the population of our territory
and on subscribers."
The new $305 million, seven-year facilities are made up of a $255
million term facility and a $50 million revolver of which $200 million is
anticipated to be the initial draw. All outstanding indebtedness and
transaction fees under all existing facilities will be paid upon closing.
Assets of Alamosa, WOW and Roberts will collateralize these facilities. It
is currently anticipated that the $305 million facility will close upon the
closing of the WOW and Roberts acquisitions not later than the first
quarter of 2001.
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LOGO
ALAMOSA
Personal Communications
Service
The 1999 Sprint PCS
Affiliate of the Year
Alamosa PCS Holdings, Inc., The 1999 Sprint PCS Affiliate of the Year, is a
Sprint PCS Network Partner providing Sprint PCS wireless personal
communication services in the southwestern and midwestern United States.
Alamosa PCS has the exclusive right to provide digital wireless personal
communication services under the Sprint PCS brand throughout its designated
territory primarily located in Texas, New Mexico, Arizona, Colorado and
Wisconsin. Pro Forma for the Roberts and WOW mergers, Alamosa will have an
expanded territory that will include a licensed population of 12.5 million
residents, and Alamosa PCS will be the nation's largest Sprint PCS Network
Partner based on the size of the population in its territory.
This press release contains forward-looking statements that involve risks
and uncertainties. Such forward-looking statements are made pursuant to the
"safe-harbor" provisions of the Private Securities Litigation Reform Act of
1995 and are made based on management's current expectations or beliefs as
well as assumptions made by, and information currently available to,
management. A variety of factors could cause actual results to differ
materially from those anticipated in Alamosa's forward-looking statements,
including the following factors: Alamosa's dependence on its affiliation
with Sprint PCS; shifts in populations or network focus; changes or
advances in technology; changes in Sprint's national service plans or fee
structure with Alamosa; difficulties in network construction; increased
competition in Alamosa's markets; failure to consummate anticipated
acquisitions and adverse changes in Alamosa's financial position, condition
or results of operations. For a detailed discussion of these and other
cautionary statements and factors that could cause actual results to differ
from Alamosa's forward-looking statements, please refer to Alamosa's
filings with the Securities and Exchange Commission, especially in the
"risk factors" sections of Alamosa's Prospectuses filed on February 4,
2000, its Form 10-K for the year ended December 31, 1999 and in subsequent
filings with the Securities and Exchange Commission.
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