Cogent Comms (CCOI) just unveiled an update.
Cogent Communications Holdings, Inc. has announced the pricing of a $300 million private placement of 7% senior notes due 2027 by its subsidiaries, Cogent Communications Group, LLC, and Cogent Finance, Inc. These notes, issued at 98.5% of their face value, are guaranteed by the company’s domestic subsidiaries and Cogent Group itself, although the company is not bound by the indenture covenants. Slated to close on June 11, 2024, the proceeds will be used to prepay an existing agreement and for general corporate needs, including potential dividends. The offering is limited to qualified institutional buyers and certain non-U.S. persons, with no guarantee of completion.
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