United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: January 5, 2000
SBC COMMUNICATIONS INC.
A Delaware Corporation
Commission File No. 1-8610
IRS Employer No. 43-1301883
175 E. Houston, San Antonio, Texas 78205
Telephone Number (210) 821-4105
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Item 5. Other Events
Attached as an exhibit is a press release issued by SBC Communications Inc. on
January 5, 2000 related to its funding policy.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit-99 Text of Press Release, dated January 5, 2000, issued by SBC.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SBC Communications Inc.
/s/ Robert Pickering
-----------------------
Robert Pickering
Senior Vice President-
Finance (Corporate)
January 12, 2000
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EXHIBIT INDEX
Exhibit
Number
99 Text of Press Release, dated January 5, 2000, issued by SBC.
Exhibit-99
SBC CHANGES FUNDING POLICY, FUTURE DEBT TO BE RAISED BY PARENT COMPANY
San Antonio, Texas, January 5, 2000
SBC Communications Inc. (SBC) today announced it will discontinue debt-raising
activities at its subsidiaries in order to align its financial strategy with its
business strategy. Reflecting its transformation from a regional service
provider to one with a national scope and global focus, SBC will raise debt only
at its parent unit, SBC Communications Inc., to fund its entire operations.
In connection with this change, SBC has guaranteed existing publicly issued debt
securities (not otherwise guaranteed by SBC) issued by Ameritech Capital Funding
Corporation; Illinois Bell Telephone Company; Indiana Bell Telephone Company,
Inc.; Michigan Bell Telephone Company; The Ohio Bell Telephone Company; Pacific
Bell Telephone Company; Southern New England Telecommunications Corporation; The
Southern New England Telephone Company; Southwestern Bell Telephone Company and
Wisconsin Bell, Inc. Each guaranty will apply as long as the individual company
remains a wholly- owned subsidiary of SBC.
Effective with the third quarter of 1999, SBC is no longer required by the SEC
to report separately on a subsidiary basis.
SBC is taking this action to capitalize upon efficiencies and economies of scale
in raising funds in the capital markets, and in no way indicates a change in the
financial strength or quality of SBC's local operating subsidiaries.
