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
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