debt
confidence high
sentiment neutral
materiality 0.60
Cogent prices $300M of 7.000% senior notes due 2027 at 98.50% of face value
COGENT COMMUNICATIONS HOLDINGS, INC.
- Offering of $300M aggregate principal amount of 7.000% senior notes due 2027 priced at 98.50% of face value.
- Notes are a separate series from existing 7.00% senior notes due 2027; guaranteed by Cogent and material domestic subs.
- Expected to close June 11, 2024; proceeds used to prepay ~$125M right-of-use agreement at 12% discount and for general corporate purposes.
- Net proceeds from prepayment option cover 33 remaining monthly payments of $4.2M.