Midcontinent Communications talks $250 million notes due 2021 at 6½% area yield

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., July 23 - Midcontinent Communications and Midcontinent Finance Corp. have set talk for their planned $250 million offering of senior notes due 2021 (B3/B-) in the 6½% area, according to a syndicate source.

Books close at 2 p.m. ET on Tuesday, and the deal is set to price thereafter.

SunTrust Robinson Humphrey Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC and BofA Merrill Lynch are the joint bookrunners.

U.S. Bancorp Investments Inc. is a senior co-manager, while TD Securities (USA) LLC and Mitsubishi UFJ Securities are the co-managers.

The Rule 144A for life notes will be non-callable for three years.

The Sioux Falls, S.D.-based cable, internet and telephone services provider plans to use the proceeds to refinance debt.

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