ITC DeltaCom starts roadshow for $325 million six-year secured notes

By Paul A. Harris

St. Louis, Feb. 2 - ITC DeltaCom started a roadshow on Tuesday for its $325 million offering of six-year first-lien senior secured notes, according to an informed source.

The Rule 144A and Regulation S notes are expected to price on Feb. 9.

Credit Suisse and Jefferies & Co. are joint bookrunners.

Proceeds will be used to repay bank debt and for general corporate purposes.

The notes come with three years of call protection. However, up to 10% of the issue may be called annually, at 103, during the non-call period.

The notes also come with a provision allowing them to be put at 101, should a change of control occur.

The company is a Huntsville, Ala.-based voice, data and internet services provider.

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