Switch driving by with $430 million offering of eight-year notes; initial price talk 4½% area

By Paul A. Harris

Portland, Ore., June 1 – Switch, Inc. plans to price a $430 million offering of eight-year senior notes in a Tuesday drive-by, according to market sources.

Initial talk has the deal coming to yield in the 4½% area, according to a bond trader.

J.P. Morgan Securities LLC is leading the offering.

The Rule 144A and Regulation S notes come with three years of call protection.

The issuing entity will be wholly owned subsidiary Switch, Ltd.

The Las Vegas-based provider of colocation, telecommunications, cloud services, and content ecosystems plans to use the proceeds to fund its acquisition of Data Foundry, Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.