Cincinnati Bell tenders for $100 million of 8 3/8% notes, 8¼% notes

By Susanna Moon

Chicago, Oct. 29 - Cincinnati Bell Inc. said it began cash tender offers for up to $100 million of its $775 million outstanding 8 3/8% senior notes due 2020 and its $500 million outstanding 8¼% senior notes due 2017. The notes are listed in order of priority acceptance level.

The total purchase price will be $1,097.50 for each $1,000 principal amount of notes, including a $30.00 early premium, tendered by 5 p.m. ET on Nov. 9, the early tender date.

Those who tender after the early deadline will receive $1,067.50 per $1,000 of notes.

Holders also will receive accrued interest up to but excluding the settlement date, which is expected to be Nov. 20 for early tendered notes and Nov. 28 for the remaining tenders.

The tender offers will expire at 11:59 p.m. ET on Nov. 27.

The offers are conditioned on CyrusOne LP and CyrusOne Finance Corp. having closed their offering of at least $500 million principal amount of new senior notes due 2022.

Barclays (800 438-3242 or collect 212 528-7581, attn: liability management group) and Morgan Stanley & Co. LLC (800 624-1808 or collect 212 761-1057) are the dealer managers. D.F. King & Co., Inc. (800 431-9633, attn: Elton Bagley) is the information agent.

Cincinnati Bell, a Cincinnati-based owner, operator and developer of enterprise-class, carrier-neutral data center properties.

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