Columbus International talks $1.25 billion seven-year notes to yield in 7¾% area; pricing Monday

By Paul A. Harris

Portland, Ore., March 24 - Barbados-based telecom Columbus International Inc. talked its $1.25 billion offering of seven-year senior notes (B3/B) to price with a yield in the 7¾% area, a market source said on Monday.

Timing on the deal was moved ahead, the source added.

The deal is now expected to price later on Monday, whereas it had previously been expected to remain in the market until Tuesday.

Citigroup Global Markets, J.P. Morgan Securities LLC and RBC Capital Markets are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes come with four years of call protection.

Proceeds will be used to refinance debt.

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