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Integra Telecom talks $500 million six-year notes to yield 10¾% area
By Paul A. Harris
St. Louis, April 8 - Integra Telecom Holdings, Inc. talked its $500 million offering of six-year senior secured first-lien notes (B2/B-) with a yield in the 10¾% area, an informed source told Prospect News on Thursday.
The books close at noon ET on Friday, and the deal is set to price thereafter.
J.P. Morgan Securities Inc. is the left lead bookrunner for the Rule 144A and Regulation S for life offering.
Deutsche Bank Securities Inc., Goldman Sachs & Co., Jefferies & Co. and Morgan Stanley & Co. Inc. are the joint bookrunners.
The notes come with three years of call protection.
Proceeds will be used to repay the Portland, Ore.-based telecommunications company's senior secured credit facility.
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