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Article: GCI Prices $425 Million of New Senior Notes.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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General Communication, Inc. (NASDAQ:GNCMA) announced the pricing of $425 million of new 8 5/8 percent Senior Notes due 2019 at a price of 99.17 percent (the "Notes") to be issued by its wholly-owned subsidiary, GCI, Inc. The net proceeds of the offering will be used to retire all outstanding amounts under its existing senior secured credit facility and the remainder will be used for general corporate purposes. The offering is expected to close on November 3, 2009, subject to customary closing conditions.
The offering will be made only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended and outside the United ...