T-Mobile Gains 3% On Public Offering Announcement, Chatter Of New Data Only Plan

Shares of T-Mobile US Inc (NASDAQ: TMUS) were trading higher by more than 3 percent on Tuesday after the company announced a public offering of $1 billion worth of senior notes.

T-Mobile plans on using the proceeds of the offering to purchase 700 MHz A-block spectrum and other spectrum purchases. The company noted it plans on participating in the FCC's 2016 broadcast incentive auction of 600 MHz spectrum, and if it is successful in the auction process, the company anticipates a portion of the net proceeds would be used to acquire such spectrum.

In separate news, T-Mobile is expected to introduce a new data-only plan. T-Mo News, an unofficial T-Mobile blog, posted what appears to be a leaked memo detailing the company's new "Simple Choice Data Only" rate plan. The blog added that T-Mobile could unveil its new plan as early as Wednesday.

T-Mo News also suggested that T-Mobile's data only plans will start at $20 per month and include 2 GB of data and unlimited texting.