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Cequel tenders for $750 million of its 8 5/8% senior notes due 2017
New York, Dec. 13 - Cequel Communications Holdings I, LLC announced that it has begun a tender offer with its subsidiary Cequel Capital Corp. for up to $750 million of the $1.825 billion outstanding of Cequel's 8 5/8% senior notes due 2017.
The company is offering $1,070.57 per $1,000 principal amount of the notes, including a $30.00 per $1,000 early tender payment for holders who tender by the early tender deadline of 5 p.m. ET on Dec. 27. The offer ends at midnight ET on Jan. 11.
Cequel will also pay accrued interest up to but excluding the settlement date.
The offer is subject to conditions, including a financing condition. Funding is expected to come from an offering of $1 billion of 6 3/8% senior notes due 2020 priced on Thursday.
J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are dealer managers. D.F. King & Co., Inc. is tender agent and information (banks and brokers call 212 269-5550, others 800 848-3416, email cequel@dfking.com).
Cequel is a St. Louis-based cable operator.
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