One Communications to price $275 million six-year notes June 29 week

By Paul A. Harris

St. Louis, June 25 - One Communications Corp. is expected to price a $275 million offering of first-priority six-year senior secured notes (expected B-) early in the July 29 week, according to an informed source.

Morgan Stanley & Co. Inc. and J.P. Morgan Securities Inc. are joint bookrunners for the Rule 144A offering.

The notes come with four years of call protection.

Proceeds will be used to repay bank debt.

The issuer is a Burlington, Mass.-based privately held regional provider of telecommunications services.

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