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WideOpenWest talks $100 million tap of 10¼% notes at 112.5-113; pricing Wednesday
By Paul A. Harris
Portland, Ore., March 26 - WideOpenWest Finance, LLC talked a $100 million tack-on to its 10¼% senior notes due July 15, 2019 to price at 112.5 to 113, according to an informed source.
Books close at 12:30 p.m. ET Wednesday, and the deal is set to price thereafter.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are the joint bookrunners for the Rule 144A and Regulation S with registration rights offer.
The notes become callable after July 15, 2015 at 107.688 and feature a 40% equity clawback until July 15, 2015 and a 101% poison put.
The Denver-based provider of residential and commercial high-speed internet, cable television and telephone services plans to use the proceeds to repay its revolver and for general corporate purposes.
The original $725 million issue priced at par in July 2012.
Upon registration the add-on notes will be fungible with the original notes.
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