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Article: Cincinnati Bell Prices Offering of $500 Million of 8.25% Senior Notes Due 2017.
- Article from:
- Telecommunications Weekly
- Article date:
- October 14, 2009
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Cincinnati Bell Inc. (NYSE: CBB) announced that it has priced a public offering of $500 million aggregate principal amount of senior notes due 2017. The notes will bear interest at a rate of 8.25 percent per annum, payable semi-annually on April 15 and October 15, and the first interest payment date will be April 15, 2010.
The 8-year notes were priced at 98.562 percent of par to yield 8.5 percent, resulting in net proceeds to Cincinnati Bell of $482.8 million after deducting underwriting discounts and commissions. The net proceeds of the offering will be used to call the company's outstanding 71/4% Senior Notes due 2013 in an amount of $440 million plus accrued ...