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Cox starts tender for exchangeables
New York, Aug. 26 - Cox Communications, Inc. announced a cash tender offer for its exchangeable subordinated discount debentures due 2020.
The Atlanta communications company is offering $510 per $1,000 principal amount at maturity of the securities if tendered by 5.00 pm. ET on Sept. 9 or $495 per $1,000 principal amount at maturity from then up to the expiry of the offer at midnight ET on Sept. 23. The deadlines are subject to extension.
Holders will receive accrued cash interest up to but not including the settlement date.
The debentures are linked to Sprint PCS stock. As of June 30, Cox Communications had $1.8 billion principal amount at maturity of the securities outstanding.
Merrill Lynch & Co. (Liability Management Group at 888 654-8637) or and Citigroup Global Markets Inc. (Liability Management Group at 800 558-3745) are dealer managers and Global Bondholder Services Corp. (866 470-3900) is information agent. Credit Suisse First Boston, Lehman Brothers, UBS Investment Bank and Wachovia Securities are co-managers.
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