US local exchange carrier FairPoint Communications has priced US$300m of debt for a refi.
The 8.75% senior secured notes mature in 2019.
The North Carolina-based operator plans to use the proceeds, together with financing under its proposed new credit…
US local exchange carrier FairPoint Communications has priced US$300m of debt for a refi.
The 8.75% senior secured notes mature in 2019.
The North Carolina-based operator plans to use the proceeds, together with financing under its proposed new credit agreement and cash on hand, to repay the US$947m outstanding under its existing term loan.
It is anticipated that the new credit agreement would include a US$640m term loan and a US$75m revolving credit facility.
The offering is expected to close on 14 February.
Fairpoint offers broadband, local and long-distance phone, television and other high-capacity data services to customers across 17 US states.
