Us broadband and fixed-line telco Windstream Corporation has privately placed US$500m in senior notes.
The 7.75% coupon matures on October 15, 2020. There was no discount on the face value offered. Moody’s rated the bonds Ba3, and S&P gave the issue a B+…
Us broadband and fixed-line telco Windstream Corporation has privately placed US$500m in senior notes.
The 7.75% coupon matures on October 15, 2020. There was no discount on the face value offered. Moody’s rated the bonds Ba3, and S&P gave the issue a B+ rating.
The private placement offering is expected to be completed by early October, pending market conditions.
The proceeds of the issue will be used to fund the acquisition of Kansas-based cableco, Q-Comm, which Windstream agreed to buy for US$782m in cash and stock on August, 17. This transaction will close in Q4 2010.
BoA Merrill Lynch, Barclays, Citigroup, JP Morgan, RBS, and Wells Fargo were the joint bookrunners.
