Cincinnati Bell to sell $350 million eight-year notes backing Hawaiian Telecom acquisition

By Paul A. Harris

Portland, Ore., Sept. 21 – Cincinnati Bell Inc. plans to price a $350 million offering of eight-year senior notes on Thursday, following a mid-morning conference call with investors, according to a syndicate source.

Morgan Stanley & Co. LLC, PNC Capital Markets, Regions Bank, Barclays, Citigroup Global Markets Inc. and Citizens Bank are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes come with three years of call protection.

The Cincinnati-based provider of integrated communications solutions plans to use the proceeds to fund the cash portion of its acquisition of Honolulu-based Hawaiian Telcom HoldCo, Inc. and refinance Hawaiian Telecom's existing credit agreement.

The issuing entity will be CB Escrow Corp.

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