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Zayo to redeem $675 million 8 1/8% notes with proceeds from new notes
New York, March 4 – Zayo Group, LLC plans to redeem its $675 million of 8 1/8% senior secured notes due 2020 using funds raised from an offering of new notes.
The company will pay par plus a make-whole premium and accrued interest to redeem the existing debt, according to a news release.
Zayo announced an add-on offering of $730 million of 6% senior notes due 2023 to finance the planned redemption.
Zayo Group is a subsidiary of Zayo Group Holdings, Inc., a Boulder, Colo. provider of bandwidth infrastructure services.
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