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MCI note coupons to step up 100 basis points on Wednesday
New York, Dec. 14 - MCI Inc. said the coupons on its $5.7 billion of outstanding notes will step up by 100 basis points on Dec. 15.
The change follows the assignment of a B2 rating by Moody's Investors Service. Standard & Poor's previously rated the notes at B+.
The $1.98 billion of senior notes due 2007 will now pay interest at 6.908%, the $1.98 billion of senior notes due 2009 at 7.688%, and the $1.70 billion of senior notes due 2014 at 8.735%.
Due to the step up, the Ashburn, Va., telecommunications company will pay an extra $56.6 million in interest a year.
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