US local exchange carrier Cincinnati Bell is looking to secure a new US$400m seven-year term loan, which it plans to incorporate into its existing bank credit agreement.
The net proceeds from the facility – estimated at US$390m – will be used to…
US local exchange carrier Cincinnati Bell is looking to secure a new US$400m seven-year term loan, which it plans to incorporate into its existing bank credit agreement.
The net proceeds from the facility – estimated at US$390m – will be used to pay off some of its 8.25% senior notes due 2017, it said in a statement.
The regional telco previously redeemed part of this series with the proceeds of a bond issue last November.
In January Cincinnati Bell raised US$360m by listing 28% of its data centre subsidiary CyrusOne as a real estate investment trust (Reit).
The company offers fixed-line and mobile services, but has also branched out into IPTV and payphones. It offers services in Ohio, Indiana and Kentucky and reported revenues of US$1.5bn for 2012 and US$535m adjusted EBITDA.
