Switch expected to sell $500 million eight-year notes on Wednesday; whisper low 4% area

By Paul A. Harris

Portland, Ore., Sept. 8 – Switch, Inc. expects to price a $500 million issue of eight-year senior notes on Wednesday, according to market sources.

Initial talk has the Rule 144A and Regulation S deal coming to yield in the low 4% area.

J.P. Morgan Securities LLC is the lead.

The notes come with two years of call protection.

The Las Vegas-based technology company plans to use the proceeds to pay off its revolving credit facility, which has $280 million outstanding, to repay $182 of term loan debt and for general corporate purposes.

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