Midcontinent Communications expected to launch $250 million notes offering on Friday

By Paul A. Harris

Portland, Ore., July 16 - Midcontinent Communications is expected to launch a $250 million offering of senior notes (/B-/) on Friday, according to a buyside source, who added that the deal is expected to be led by SunTrust Robinson Humphrey Inc.

Preliminary yield conversations have thus far ranged from the mid-6% level to the low 7% level, the buysider said.

The Sioux Falls, S.D.-based cable, internet and telephone services provider plans to use the proceeds to repay bank debt.

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