tw telecom aims to pay off debt with a 2014 due date and a 9.25 percent interest rate. The new offering comes with an 8 percent interest rate and matures in 2018.
The offering will close March 17.
Several CLECs are taking advantage of a market that seems to be loosening its purse strings to refinance their debt. Birch Telecom said in December it wants to raise $100 million, Level 3 Communications is working to raise $640 million and Qwest is doing a $1.2 billion debt buy-back. CLEC Deltacom, however, recently pulled its plans for a debt offering, saying the cost of capital had grown too high.
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March 15 2019 @ 19:34:51 UTC