Radiate Holdco to price $3.25 billion notes in secured and unsecured tranches on Friday

By Paul A. Harris

Portland, Ore., Sept. 8 – Radiate Holdco LLC and Radiate Finance Inc. plan to kick off $3.25 billion of high-yield notes on an investor conference call at 2 p.m. ET on Tuesday, according to market sources.

The Rule 144A and Regulation S for life deal includes $2.25 billion of six-year senior secured notes with three years of call protection. Initial price talk is in the 5% area.

The deal also features $1 billion of eight-year senior unsecured notes with three years of call protection and initial talk of 6½% to 6¾%.

Pricing is expected on Friday.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Barclays, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, SG Americas Securities LLC and UBS Securities LLC are the joint bookrunners.

Proceeds will be used to refinance debt, including credit facilities, to fund a dividend to equity holders and for general corporate purposes.

The issuers are special purpose vehicles used by TPG Capital in financing its acquisitions of RCN Telecom Services, LLC and Grande Communications Networks LLC.

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