US telco TW Telecom has said it is to raise US$480m by selling 5.375% senior notes that will mature in 2022.
Credit Suisse was the lead-left bookrunner, and Wells Fargo the right bookrunner. Co-managers were Sun Trust, UBS and Morgan Stanley. The…
US telco TW Telecom has said it is to raise US$480m by selling 5.375% senior notes that will mature in 2022.
Credit Suisse was the lead-left bookrunner, and Wells Fargo the right bookrunner. Co-managers were Sun Trust, UBS and Morgan Stanley. The notes priced at par.
The Colorado-based firm is issuing the bond through its wholly-owned subsidiary TW Telecom Holdings.
TW said it will use the proceeds from the offering to settle the conversion obligations for its 2.375% convertible senior debentures due 2026. Any net proceeds not used for this will be used for general corporate purposes.
The company expects to close the offering, which Moody’s rated B1, on 2 October 2012.
TW offers local and long-distance voice, VoIP, Ethernet and internet services to business clients and other carriers.
