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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 (Date of earliest event reported) December 7, 2020

 

 

AT&T INC.

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware   001-08610   43-1301883

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

208 S. Akard St., Dallas, Texas   75202
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code (210) 821-4105

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange

on which registered

Common Shares (Par Value $1.00 Per Share)   T   New York Stock Exchange
Depositary Shares, each representing a 1/1000th interest in a share of 5.000% Perpetual Preferred Stock, Series A   T PRA   New York Stock Exchange
Depositary Shares, each representing a 1/1000th interest in a share of 4.750% Perpetual Preferred Stock, Series C   T PRC   New York Stock Exchange
AT&T Inc. 1.875% Global Notes due December 4, 2020   T 20   New York Stock Exchange
AT&T Inc. 2.650% Global Notes due December 17, 2021   T 21B   New York Stock Exchange
AT&T Inc. 1.450% Global Notes due June 1, 2022   T 22B   New York Stock Exchange
AT&T Inc. 2.500% Global Notes due March 15, 2023   T 23   New York Stock Exchange
AT&T Inc. 2.750% Global Notes due May 19, 2023   T 23C   New York Stock Exchange
AT&T Inc. Floating Rate Global Notes due September 5, 2023   T 23D   New York Stock Exchange
AT&T Inc. 1.050% Global Notes due September 5, 2023   T 23E   New York Stock Exchange
AT&T Inc. 1.300% Global Notes due September 5, 2023   T 23A   New York Stock Exchange
AT&T Inc. 1.950% Global Notes due September 15, 2023   T 23F   New York Stock Exchange
AT&T Inc. 2.400% Global Notes due March 15, 2024   T 24A   New York Stock Exchange
AT&T Inc. 3.500% Global Notes due December 17, 2025   T 25   New York Stock Exchange
AT&T Inc. 0.250% Global Notes due March 4, 2026   T 26E   New York Stock Exchange
AT&T Inc. 1.800% Global Notes due September 5, 2026   T 26D   New York Stock Exchange
AT&T Inc. 2.900% Global Notes due December 4, 2026   T 26A   New York Stock Exchange
AT&T Inc. 1.600% Global Notes due May 19, 2028   T 28C   New York Stock Exchange
AT&T Inc. 2.350% Global Notes due September 5, 2029   T 29D   New York Stock Exchange
AT&T Inc. 4.375% Global Notes due September 14, 2029   T 29B   New York Stock Exchange
AT&T Inc. 2.600% Global Notes due December 17, 2029   T 29A   New York Stock Exchange
AT&T Inc. 0.800% Global Notes due March 4, 2030   T 30B   New York Stock Exchange
AT&T Inc. 2.050% Global Notes due May 19, 2032   T 32A   New York Stock Exchange
AT&T Inc. 3.550% Global Notes due December 17, 2032   T 32   New York Stock Exchange
AT&T Inc. 5.200% Global Notes due November 18, 2033   T 33   New York Stock Exchange
AT&T Inc. 3.375% Global Notes due March 15, 2034   T 34   New York Stock Exchange
AT&T Inc. 2.450% Global Notes due March 15, 2035   T 35   New York Stock Exchange
AT&T Inc. 3.150% Global Notes due September 4, 2036   T 36A   New York Stock Exchange
AT&T Inc. 2.600% Global Notes due May 19, 2038   T 38C   New York Stock Exchange
AT&T Inc. 1.800% Global Notes due September 14, 2039   T 39B   New York Stock Exchange
AT&T Inc. 7.000% Global Notes due April 30, 2040   T 40   New York Stock Exchange
AT&T Inc. 4.250% Global Notes due June 1, 2043   T 43   New York Stock Exchange
AT&T Inc. 4.875% Global Notes due June 1, 2044   T 44   New York Stock Exchange
AT&T Inc. 4.000% Global Notes due June 1, 2049   T 49A   New York Stock Exchange
AT&T Inc. 4.250% Global Notes due March 1, 2050   T 50   New York Stock Exchange
AT&T Inc. 3.750% Global Notes due September 1, 2050   T 50A   New York Stock Exchange
AT&T Inc. 5.350% Global Notes due November 1, 2066   TBB   New York Stock Exchange
AT&T Inc. 5.625% Global Notes due August 1, 2067   TBC   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 8.01

Other Events.

On December 7, 2020, AT&T Inc. (“AT&T”) completed its previously announced debt exchange offers (the “Exchange Offers”) to (a) exchange the notes listed in the first table below (the “Pool 1 Notes”) for AT&T’s new 3.800% Global Notes due 2057 (the “New 2057 Securities”) and cash and (b) exchange the notes listed in the second table below (the “Pool 2 Notes”) for AT&T’s new 2.550% Global Notes due 2033 (the “New 2033 Securities” and, together with the New 2057 Securities, the “New Securities”) and cash, each on the terms and in accordance with the Offering Memorandum dated November 17, 2020, as amended by AT&T’s Press Release dated December 2, 2020. The aggregate principal amounts of each Pool 1 Note and Pool 2 Note set forth below in the first and second tables, respectively, were validly tendered and accepted and subsequently cancelled. Following such cancellation, the aggregate principal amounts of each Pool 1 Note and Pool 2 Note set forth below in the first and second tables, respectively, remain outstanding.

 

Title of Security

  

Issuer

  

Aggregate Principal Amount
Accepted

  

Aggregate Principal Amount
Outstanding Following
Cancellation

Pool 1 Notes

4.800% Global Notes due 2044

  

AT&T

   $1,142,898,000    $   606,975,000

4.500% Global Notes due 2048

  

AT&T

   $2,441,951,000    $1,734,492,000

4.35% Global Notes due 2045

  

AT&T

   $   780,865,000    $1,115,280,000

4.30% Global Notes due 2042

  

AT&T

   $   659,355,000    $1,296,794,000

 

Title of Security

  

Issuer

  

Aggregate Principal Amount
Accepted

  

Aggregate Principal Amount
Outstanding Following
Cancellation

Pool 2 Notes

7 1/8% Debentures due March 15, 2026   

Pacific Bell Telephone

Company(1)(2)

   $    4,441,000    $   218,516,000
4.125% Global Notes due 2026    AT&T    $838,595,000    $1,811,405,000
3.875% Global Notes due 2026    AT&T    $238,855,000    $   302,286,000
2.950% Global Notes due 2026    AT&T    $346,897,000    $   360,361,000
6.55% Debentures due January 15, 2028    Ameritech Capital Funding Corporation(3)    $    9,121,000    $     91,127,000
6 3/8% Debentures, due June 1, 2028    BellSouth Telecommunications, LLC(4)    $  20,137,000    $   177,054,000
4.100% Global Notes due 2028    AT&T    $716,642,000    $1,732,369,000
4.250% Global Notes due 2027    AT&T    $510,049,000    $1,489,951,000
3.800% Global Notes due 2027    AT&T    $570,240,000    $   758,954,000

 

(1)

Pacific Bell Telephone Company was formerly known as Pacific Bell.

 

(2)

The 7 1/8% Debentures due March 15, 2026 are unconditionally and irrevocably guaranteed by AT&T.

 

(3)

The 6.55% Debentures due January 15, 2028 are unconditionally and irrevocably guaranteed by AT&T, with the full amount payable by AT&T so long as all of the outstanding shares of stock of this subsidiary are owned, directly or indirectly, by AT&T. In the event AT&T sells, transfers or otherwise disposes of any percentage of its stock ownership and this subsidiary is no longer wholly-owned, then the guarantee will expire immediately and AT&T will be released immediately from any and all of its obligations.

 

(4)

BellSouth Telecommunications, LLC converted from BellSouth Telecommunications, Inc.

In connection with the settlement of the Exchange Offers, AT&T issued (i) U.S.$5,923,400,000 aggregate principal amount of its New 2057 Securities, in exchange for the Pool 1 Notes validly tendered and accepted and (ii) U.S.$3,754,741,000 aggregate principal amount of its New 2033 Securities, in exchange for the Pool 2 Notes validly tendered and accepted, in each case, pursuant to the Exchange Offers.

The respective forms of the Rule 144A Global Notes and Regulation S Global Notes for each series of New Securities are filed as Exhibits 4.1 – 4.4 and are incorporated herein by reference in their entirety. In connection with the issuance of the New Securities, AT&T entered into a Registration Rights Agreement, dated as of December 7, 2020, with the dealer managers named therein, which will give holders of the New Securities certain exchange and registration rights with respect to the New Securities. A copy of the Registration Rights Agreement is filed as Exhibit 4.5 and is incorporated herein by reference in its entirety.


The New Securities are governed by the terms of an indenture, dated as of May 15, 2013, between AT&T and The Bank of New York Mellon Trust Company, N.A., as trustee.

 

Item 9.01

Financial Statements and Exhibits.

The following exhibits are filed as part of this report:

(d)    Exhibits

 

        4.1    Form of 3.800% Rule 144A Global Note due 2057
        4.2    Form of 3.800% Regulation S Global Note due 2057
        4.3    Form of 2.550% Rule 144A Global Note due 2033
        4.4    Form of 2.550% Regulation S Global Note due 2033
        4.5    Registration Rights Agreement, dated as of December 7, 2020
        104    The cover page from AT&T Inc.’s Current Report on Form 8-K, formatted in Inline XBRL


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 hereunto duly authorized.

 

    AT&T INC.
Date: December 7, 2020     By:  

/s/ George B. Goeke

      George B. Goeke
      Senior Vice President and Treasurer