Cincinnati Bell Proposes USD 350m Offering of Senior Notes Due 2025

Cincinnati Bell Inc. (NYSE: CBB) has announced the commencement of a private offering of USD 350 million aggregate principal amount of senior notes due 2025 by CB Escrow Corp., an Ohio corporation and wholly owned subsidiary of the company (the “Issuer”), subject to market and other conditions, the company said.

The offering of the Notes is part of the financing of the cash portion of the merger consideration for the previously announced acquisition of Hawaiian Telcom Holdco, Inc. by the company.

At the closing of the HCOM Acquisition, the Issuer will merge with and into the company (the “Escrow Merger”), with the company continuing as the surviving corporation. At the time of the Escrow Merger, the company will assume the obligations of the Issuer under the Notes and the related indenture (the “Assumption”).

The company intends to use the net proceeds from the offering of the Notes, together with cash on hand and borrowings under the company´s senior credit facilities and receivables facility, to fund the cash portion of the merger consideration of the HCOM Acquisition, refinance existing Hawaiian Telcom indebtedness and pay fees and expenses in connection with the foregoing.

With headquarters in Cincinnati, Ohio, Cincinnati Bell Inc. (NYSE:CBB) provides integrated communications solutions — including local and long distance voice, data, high-speed Internet and video — that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world. In addition, enterprise customers across the United States rely on CBTS, a wholly owned subsidiary, for efficient, scalable office communications systems and end-to-end IT solutions. For more information, visit