debt
confidence high
sentiment neutral
materiality 0.65
Cogent issues $600M 6.5% senior secured notes due 2032; redeems existing 3.5% notes
COGENT COMMUNICATIONS HOLDINGS, INC.
- Issued $600M aggregate principal of 6.500% senior secured notes due July 1, 2032.
- Net proceeds of ~$596.8M used to redeem in full the $500M 3.500% Senior Secured Notes due 2026.
- Remainder expected for general corporate purposes and/or dividends to parent company.
- Notes are jointly and severally guaranteed by Cogent Group's domestic subsidiaries and the parent on a senior secured basis.
- Notes bear semiannual interest starting Jan 1, 2026; redeemable at make-whole prior to July 1, 2028.
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