RCN Grande sets Friday call to launch $300 million five-year notes

By Paul A. Harris

Portland, Ore., Jan. 11 – RCN Grande plans to price $300 million of five-year senior notes during the Jan. 15 week, according to a syndicate source.

The deal is set to launch on an investor conference call scheduled to take place on Friday.

Credit Suisse Securities (USA) LLC is the lead bookrunner. UBS Investment Bank, Morgan Stanley & Co. LLC, Nomura Securities, Goldman Sachs & Co. LLC and BofA Merrill Lynch are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon and feature a two-year 40% equity clawback at par plus the coupon and a 101% poison put.

The issuing entities are special purpose vehicles Radiate HoldCo, LLC and Radiate Finance, Inc.

The Princeton, N.J.-based cable, internet and telecom services provider plans to use the proceeds to fund its acquisition of WaveDivision Holdings.

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