Windstream Regatta to offer $217 million 10-year senior subordinated notes

By Paul A. Harris

St. Louis, Nov. 13 -Windstream Regatta Holdings, Inc. is expected to come to the high-yield market with a $217 million offering of 10-year senior subordinated notes, according to a market source.

Merrill Lynch & Co. has been involved in past debt financing for the company, the source added.

On Tuesday Moody's Investors Service assigned its B2 rating to the notes, while Standard & Poor's rated the notes B-.

Proceeds will be used to finance the purchase of Windstream Yellow Pages by investment funds of Welsh, Carson, Anderson and Stowe and for general corporate purposes.

The prospective issuer is a Little Rock, Ark., publisher of yellow pages directories.

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