| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers J > Headlines for j2 Global, Inc. > News item |
j2 Cloud redeems $255 million 8% notes due 2020 at 102 via new issue
By Susanna Moon
Chicago, Aug. 9 – j2 Global, Inc.’s subsidiary, j2 Cloud Services, LLC, redeemed $255 million of its 8% senior notes due 2020 on Aug. 1.
The company redeemed the notes at 102% of par plus accrued interest using proceeds from the issue of 6% senior notes, according to a 10-Q filing with the Securities and Exchange Commission.
As a result, the company said it has reclassified $265 million, which includes a redemption premium and accrued interest, from cash to restricted cash and classified the long-term debt for the 8% notes.
As reported, j2 Cloud priced an upsized $650 million issue of eight-year senior notes at par to yield 6% on June 22.
The issuer is a Los Angeles-based provider of cloud services.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.