Cogent Communications Holdings, Inc. announced that its wholly owned subsidiaries, Cogent Communications Group, LLC and Cogent Finance, Inc., intend to commence an offering of $600.0 million aggregate principal amount of senior secured notes due 2032. The notes will be offered and sold to qualified institutional buyers and certain non-U.S. persons.
The new notes will be guaranteed on a senior secured basis by Cogent Group's existing and future material domestic subsidiaries, with certain exceptions. Additionally, the Company will provide a senior unsecured guarantee for the notes.
Cogent Group plans to use a portion of the net proceeds from this offering to finance the redemption in full of its outstanding $500.0 million aggregate principal amount of 3.500% senior secured notes due 2026. The remaining net proceeds are designated for general corporate purposes and/or to make special or recurring dividends to the Company.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.