Broadview Networks starts roadshow for $210 million six-year notes via Jefferies

By Paul A. Harris

St. Louis, Aug. 4 - Broadview Networks Holdings Inc. began a roadshow on Friday for its $210 million offering of six-year senior secured notes (B-), according to an informed source.

The offering is expected to price during the week of Aug. 14.

Jefferies & Co. is the bookrunner for the notes, which are being sold via Rule 144A with registration rights and which come with three years of call protection as well as a three-year 35% equity clawback.

Proceeds will be used to fund the acquisition of Philadelphia-based ATX Communications Inc., to repay debt under Broadview's existing senior secured credit facility and its senior unsecured subordinated notes due 2009 and for general corporate purposes.

Broadview is a facilities-based communications provider offering voice and data solutions to small- and medium-sized business customers in 13 markets in seven states throughout the northeast and mid-Atlantic United States, and has headquarters in Rye Brook, N.Y.

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