Cequel wraps offer for 8 5/8% notes; no more tenders since early date

By Susanna Moon

Chicago, Jan. 14 - Cequel Communications Holdings I, LLC and its subsidiary Cequel Capital Corp. received no additional tenders in the offer for up to $750 million of the outstanding $1,825,000,000 of Cequel's 8 5/8% senior notes due 2017 since the early deadline.

The companies settled the early tenders on Dec. 28, according to a press release.

The offer ended at midnight ET on Jan. 11. It began on Dec. 13.

As noted before, holders tendered $712,399,000, or about 39%, of the notes by 5 p.m. ET on Dec. 27, the early deadline.

The total purchase price was $1,070.57, including a $30.00 early tender payment, per $1,000 principal amount of notes tendered by the early tender deadline.

Cequel also paid accrued interest up to but excluding the settlement date.

The offer was subject to conditions, including a financing condition. Funding was expected to come from an offering of $1 billion of 6 3/8% senior notes due 2020.

J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC were the dealer managers. D.F. King & Co., Inc. was the tender agent.

Cequel is a St. Louis-based cable operator.

© 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.