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Cincinnati Bell prices upsized debt offering

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Cincinnati Bell prices upsized debt offering

Cincinnati Bell Inc. priced an additional $200 million of 7.000% senior unsecured notes due 2024, under its previously announced $425 million offering of 7.000% senior notes due 2024.

The notes will be issued at a price equaling 105% of their principal amounts, plus accrued interest from Sept. 22. The additional notes will be treated as a single series with the existing 2024 notes and will have the same terms, the company said Dec. 15.

The company plans to use the net proceeds to repay the debt under its senior secured tranche B term loan facility, which amounts to about $208 million.

The offering is expected to close on Dec. 23, subject to customary closing conditions.