Item 1.01 Entry into a Material Definitive Agreement
Closing of Notes Offering
On
The Notes are secured by a first-priority lien, subject to permitted liens, by all the assets that secure the Issuer's obligations under its senior secured credit facilities and existing senior secured notes.
The Notes will bear interest at a rate of 8.750% per annum and will mature on
The Issuer may redeem the Notes at any time, in whole or in part, prior to their
maturity. The redemption price for Notes redeemed before
In the event of a change of control, each holder of Notes will have the right to require the Issuer to purchase for cash such holder's Notes at a purchase price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, if any, to, but not including, the date of repurchase.
The Indenture contains customary negative covenants, subject to a number of important exceptions and qualifications, including, without limitation, covenants related to incurring additional debt and issuing preferred stock; incurring or creating liens; redeeming and/or prepaying certain debt; paying dividends on stock or repurchasing stock; making certain investments; engaging in specified sales of assets; entering into transactions with affiliates; and engaging in consolidation, mergers and acquisitions. Certain of these covenants will be suspended during such time, if any, that the Notes have investment grade ratings by at least two of Moody's, S&P or Fitch. The Indenture also provides for customary events of default which, if any of them occurs, would permit or require the principal of and accrued interest on the Notes to become or to be declared due and payable.
The Company plans to use the proceeds from the offering of the Notes to fund capital investments and operating costs associated with its fiber build and expansion of its fiber customer base, and for other general corporate purposes.
The foregoing description of the Indenture is qualified in its entirety by reference to the full text of such Indenture, a copy of which is filed as Exhibit 4.1, and is incorporated by reference herein. Entry into Amendment to Secured Credit Facility
On
--------------------------------------------------------------------------------
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of such Amendment, a copy of which is filed as Exhibit 10.1, and is incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 is incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits Exhibit Number Description
4.1 Indenture, dated as of
collateral grantor party thereto,
Association, as trustee and
agent.
4.2 Form of 8.750% First Lien Secured Notes due 2030 (included in Exhibit
4.1 hereto).
10.1 Amendment No. 2 to Amended and Restated Credit Agreement, dated as of
borrower,
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
--------------------------------------------------------------------------------
© Edgar Online, source