Cincinnati Bell launches new $275 million senior note offer

Cincinnati Bell (NYSE: CBB) is again coming to the finance table with plans to $275 million in senior notes that are due in 2020 on top of the previous $500 million offering it announced in October.  

These new $275 million notes will have the same terms as the existing $500 million 2020 notes and be interchangeable with them.

The service provider will use the net proceeds from selling the additional $275 million notes to repay $260 million in outstanding debt under its secured term loan facility and cover related fees and expenses. 
 
Deutsche Bank served as the sole bookrunning manager for the sale.

These latest offerings follow a similar $500 million senior notes offering the telco launched last fall that are due in 2017.

For more:
- Business Week via AP has this article

Related articles:
Cincinnati Bell Q2: Fiber drive soothes its wireline loss pain
Cincinnati Bell enhances its data center power by acquiring CyrusOne
Cincinnati Bell sees data centers, FTTX as its growth engines
Cincinnati Bell lights up Cincinnati community square with fiber
Cincinnati Bell takes a hit in Q4 09
Cincinnati Bell to axe more jobs in 2010

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceTelecom!

The Telecom industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceTelecom as their must-read source for the latest news, analysis and data on the intersection of telecom and media. Sign up today to get telecom news and updates delivered to your inbox and read on the go.

Suggested Articles

The battle for SD-WAN supremacy remains fierce among vendors with VMware, Cisco and Fortinet holding down the top-three spots in Q3 market share.

Broadband remains a key asset as the coronavirus surges across the globe, which has led to a speedier transition to 1-Gig services.

Lumen CTO Andrew Dugan believes enterprise CIOs are turning to edge compute because it provides better performance for their applications.