debt
confidence high
sentiment neutral
materiality 0.65
Cogent Communications issues $300M of 7.000% senior notes due 2027
COGENT COMMUNICATIONS HOLDINGS, INC.
- Issued $300M aggregate principal of 7.000% senior notes due June 15, 2027; net proceeds ~$292.3M.
- Approximately $110M of net proceeds used to prepay an existing right-of-use agreement at a 12% discount.
- Remaining proceeds for general corporate purposes or special/recurring dividends to parent.
- Notes are senior unsecured, rank pari passu with existing 7.00% notes, and are guaranteed by parent and subsidiaries.