has upsized its seniornote offering to $1.0 billion from $700million, according to a May 9 company release.
The 7.25% seniornotes due May 15, 2026, will be guaranteed by the company's subsidiaries and willbe considered as senior unsecured obligations. The offering is expected to closeMay 23.
Proceeds fromthe offering, combined with cash on hand, will be used to fund the repurchase ofup to $1 billion worth of outstanding senior notes. Any remainder of the proceedswill be used for general corporate purposes.