US fibre facilities-based local exchange carrier TW Telecom is reportedly planning to issue a US$400m 10-year senior unsecured bond.
A Moody’s report stated that the bond will be issued through the telco’s wholly-owned subsidiary TW Telecom…
US fibre facilities-based local exchange carrier TW Telecom is reportedly planning to issue a US$400m 10-year senior unsecured bond.
A Moody’s report stated that the bond will be issued through the telco’s wholly-owned subsidiary TW Telecom Holdings.
The ratings agency said TW is expected to use the proceeds of the offering to fund the cash conversion obligation for its 2.375% senior convertible debentures, which currently have approximately US$374m outstanding.
It rated the issuance B1 and affirmed its Ba3 rating of the whole firm.
TW offers local and long-distance voice, VoIP, Ethernet and internet services to business clients and other carriers.
