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Cequel Announces Pricing of Private $600 Million Debt Offering

Posted : Fri, 30 Oct 2009 20:30:40 GMT
Author : Cequel Communications
Category : Press Release
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ST. LOUIS - (Business Wire) Cequel Communications Holdings I, LLC (“Cequel”) and its subsidiary co-issuer, Cequel Capital Corporation, announced today the pricing of their previously announced private offering to eligible purchasers. The $600 million aggregate principal amount of 8.625% Senior Notes due 2017 (the “Notes”) are being offered at a price of 98.580%. The Notes are being offered only to qualified institutional investors pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside the United States in compliance with Regulation S under the Securities Act.

Net proceeds from the offering, together with cash on hand, will be used to repay or repurchase a portion of the loans outstanding under the credit facilities of Cequel Communications, LLC (d/b/a Suddenlink Communications), a subsidiary of Cequel, and to pay related fees and expenses.

The Notes have not been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States except with an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

This press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Forward looking statements, which are based on management’s current expectations, are generally identifiable by the use of terms such as “may,” “will,” “expects,” “believes,” “intends,” “anticipates” and similar expressions. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and Cequel undertakes no duty to update this information.

Cequel Communications
Pete Abel, 314-315-9346


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