debt
confidence high
sentiment neutral
materiality 0.60
Cogent subsidiaries to offer $300M of 7.000% senior notes due 2027; proceeds to prepay IRU and for general purposes
COGENT COMMUNICATIONS HOLDINGS, INC.
- $300M aggregate principal of 7.000% senior notes due 2027 offered under Rule 144A and Regulation S.
- ~$110M of net proceeds to prepay an existing IRU with ~$125M remaining at a 12% discount.
- Remainder for general corporate purposes or special/recurring dividends to parent company.
- Notes guaranteed by Cogent and material domestic subsidiaries; not fungible with existing 7.00% notes.
- No assurance the offering will be consummated; subject to market conditions.