Array Digital Infrastructure's Bonds Are Cheap As Investment-Grade Telephone and Data Systems To Take Over

2026-06-19 03:26:01 ET

Array Digital Infrastructure's ( AD ) baby bonds are trading close to their cheapest-ever discount on a paradox that's set to possibly open up its bondholders to strong total returns over the next year. AD has three outstanding baby bonds, UZE , UZD , UZF , that have all seen significant negative price returns over the last few years as liquidity was removed from AD's balance sheet as large special dividends to Telephone and Data Systems ( TDS ), its largest shareholder. TDS currently owns around 82% of AD and put in an all-stock offer to acquire all of the outstanding shares it doesn't already own. This will see AD becoming a wholly owned subsidiary of TDS and its financials fully consolidated into TDS....

Read the full article on Seeking Alpha

For further details see: