US cableco Cequel Communications Holdings, which operates as Suddenlink Communications, has embarked on a US$750m private offering of senior notes.
The notes will mature in 2021. Proceeds will be used to refinance US$712.6m worth of 8.625% senior…
US cableco Cequel Communications Holdings, which operates as Suddenlink Communications, has embarked on a US$750m private offering of senior notes.
The notes will mature in 2021. Proceeds will be used to refinance US$712.6m worth of 8.625% senior notes due 2017 and associated costs.
Missouri-based Suddenlink was the subject of an MBO last summer. Members of Suddenlink’s management team led by CEO Jerry Kent teamed up with PE firm BC Partners and Canadian pension fund CPP Investment Board (CPPIB) for a US$2.5bn acquisition of the company. They also took on US$4.09bn debt.
Suddenlink is the seventh-largest cableco in the US. It offers telephone, internet and television services and generated revenues of US$2.06bn in 2012.
