T — Who's Buying and Selling (13F)

AT&T closed its $23 billion purchase of 600 MHz and 3.45 GHz spectrum licenses from EchoStar on July 28, 2026, through its subsidiary AT&T Mobility II LLC. To help fund the deal, AT&T drew $11.5 billion on a two-year term loan and $3.0 billion on a 364-day loan, both part of its existing $17.5 billion delayed draw term loan facility; the rest was paid in cash. The loan terms are standard, with customary default and acceleration provisions. This closing had been anticipated after the initial agreement was disclosed in August 2025.

AT&T reported its second-quarter 2026 earnings on July 22, 2026. The company released its quarterly operating results, with the full press release and financial statements attached as exhibits to this 8-K filing.