Insight Communications starts roadshow for $400 million offering of eight-year senior notes

By Paul A. Harris

St. Louis, June 28 - Insight Communications Co., Inc. began a brief roadshow on Monday for its $400 million offering of eight-year senior notes, according to an informed source.

The roadshow wraps up on Wednesday, and the notes are set to price thereafter.

Bank of America Merrill Lynch, J.P. Morgan Securities Inc., Credit Suisse Securities and Morgan Stanley & Co. Inc. are the joint bookrunners for the Rule 144A for life notes.

The notes come with three years of call protection and have a 101% poison put.

Credit ratings in the low single B range are expected to be assigned to the senior notes.

Proceeds will be used to fund a $300 million distribution to holders of the company's capital stock, with any remaining proceeds to repay its revolver and term loan A and to be used for general corporate purposes.

Insight Communications is a New York-based cable company that operates in Kentucky, Indiana and Ohio.

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