Bresnan starts roadshow for $250 million eight-year senior notes

By Paul A. Harris

St. Louis, Nov. 29 - Bresnan Broadband Holdings LLC began a brief roadshow on Monday for its $250 million offering of eight-year senior notes (B3/B+), according to an informed source.

The issuing entity will be BBHI Acquisition LLC, an indirect wholly owned subsidiary of Cablevision Systems Corp., which is to be merged with and into Bresnan.

The roadshow wraps up on Wednesday.

Bank of America Merrill Lynch, Citigroup Global Markets Inc., Barclays Capital Inc., Credit Suisse and UBS Investment Bank are the joint bookrunners for the Rule 144A for life offering.

The notes become callable in three years at par plus 75% of the coupon. The notes also feature a 101% poison put.

Proceeds, together with proceeds from a credit facility and an equity contribution from a subsidiary of Cablevision, will be used to finance the merger of BBHI Acquisition and Bresnan and to provide working capital for Bresnan, a Purchase, N.Y.-based broadband telecommunications company.

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