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Consolidated Communications to pay down revolver with notes proceeds
By Sara Rosenberg
New York, June 3 – Consolidated Communications Inc. plans on repaying a portion of the outstanding borrowings under its revolving credit facility using proceeds from a $300 million 6˝% add-on senior notes offering, according to a market source.
Remaining proceeds from the notes will be used to redeem all of the company’s 10 7/8% senior notes due 2020.
Consolidated Communications is a Mattoon, Ill.-based communications provider.
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