Colorado-based TW Telecom plans to sell US$800m notes in two tranches as it looks to refinance its debt.
A US$400m tranche of senior 2022 notes and a US$400m tranche of 2023 senior notes will be offered to qualified institutional buyers by its…
Colorado-based TW Telecom plans to sell US$800m notes in two tranches as it looks to refinance its debt.
A US$400m tranche of senior 2022 notes and a US$400m tranche of 2023 senior notes will be offered to qualified institutional buyers by its subsidiary TW Telecom Holdings.
The sale will fund the redemption of US$430m of the Nasdaq-listed company’s 8% senior notes due 2018, and for general corporate purposes.
TW Telecom has mandated Credit Suisse and Morgan Stanley to serve as the dealer managers and solicitation agents, and RBC Capital Markets and SunTrust Robinson Humphrey as co-managers.
In April it refinanced a credit agreement increasing the size of facilities, pushing out maturities, and lowering borrowing rates.
The enterprise-focused telco offers internet and network services, and fixed-line telephony.
