Cogent to redeem $240 million 8 3/8% notes on March 12 at 104.188

By Susanna Moon

Chicago, Feb. 10 – Cogent Communications Holdings, Inc. issued a call for its $240 million principal amount of outstanding 8 3/8% senior secured notes due 2018, according to an 8-K filing with the Securities and Exchange Commission.

The company will redeem the notes at 104.188% of par plus accrued interest to but excluding the redemption date of March 12.

The redemption is conditioned on the completion of the company’s offering of notes, which priced on Tuesday, with proceeds to be used to help finance the redemption.

The company priced an upsized $250 million issue of seven-year senior secured notes at par to yield 5 3/8% on Feb. 10. The company had planned to issue $245 million of notes under Rule 144A.

Cogent is a Washington, D.C.-based internet backbone network services provider.

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