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Cincinnati Bell Announces Pricing of Offering of $525 Million of CyrusOne Senior Notes



  Cincinnati Bell Announces Pricing of Offering of $525 Million of CyrusOne
  Senior Notes

Business Wire

CINCINNATI -- November 06, 2012

Cincinnati Bell Inc. (NYSE: CBB) today announced the pricing of the previously
announced offering of Senior Notes due 2022 (the “Notes”) by its wholly-owned
subsidiaries CyrusOne LP and CyrusOne Finance Corp. The offering was increased
from $500 million to $525 million in aggregate principal amount. The Notes
will be guaranteed by CyrusOne Inc. and certain of its subsidiaries. The Notes
will have an interest rate of 6.375% per annum and will be issued at a price
equal to 100% of their face value.

The net proceeds from the offering will be approximately $511 million, after
deducting commissions and expenses payable by the Issuers. The Issuers
anticipate using $480 million of the net proceeds from the sale of the Notes
to repay related party notes payable to Cincinnati Bell, with the remaining
$31 million being retained by CyrusOne LP for working capital, capital
expenditures and general corporate purposes. Cincinnati Bell intends to use
the proceeds received from CyrusOne to redeem its outstanding 7% Senior Notes
due 2015 and certain of the Cincinnati Bell Telephone notes due 2023, to
conduct a tender offer for a portion of its 8.25% Senior Notes due 2017 and
its 8.375% Senior Notes due 2020, and to repay other debt.

The Notes will be offered in the United States to qualified institutional
buyers under Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”), and to persons outside of the United States under
Regulation S under the Securities Act. The Notes and the related guarantees
will not be registered under the Securities Act or any state securities laws,
and, unless so registered, may not be offered or sold in the United States
absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell or a solicitation to
buy the securities described herein, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.

Safe Harbor Note

This release may contain forward-looking statements regarding future events
and our future results that are subject to the “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995. All statements, other than
statements of historical facts, are statements that could be deemed
forward-looking statements. These statements are based on current
expectations, estimates, forecasts, and projections about the industries in
which we operate and the beliefs and assumptions of our management. Words such
as “expects,” “anticipates,” “predicts,” “projects,” “intends,” “plans,”
“believes,” “seeks,” “estimates,” “continues,” “endeavors,” “strives,” “may,”
variations of such words and similar expressions are intended to identify such
forward-looking statements. In addition, any statements that refer to
projections of our future financial performance, our anticipated growth and
trends in our businesses, and other characterizations of future events or
circumstances are forward-looking statements. Readers are cautioned these
forward-looking statements are based on current expectations and assumptions
that are subject to risks and uncertainties, which could cause our actual
results to differ materially and adversely from those reflected in the
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to, those discussed in this release
and those discussed in other documents we file with the Securities and
Exchange Commission (SEC). More information on potential risks and
uncertainties is available in our recent filings with the SEC, including
Cincinnati Bell's Form 10-K report, Form 10-Q reports and Form 8-K reports.
Actual results may differ materially and adversely from those expressed in any
forward-looking statements. We undertake no obligation to revise or update any
forward-looking statements for any reason.

About Cincinnati Bell Inc.

With headquarters in Cincinnati, Ohio, Cincinnati Bell (NYSE: CBB) provides
integrated communications solutions - including local, long distance, data,
Internet, entertainment and wireless services - that keep residential and
business customers in Greater Cincinnati and Dayton connected with each other
and with the world. In addition, Cincinnati Bell provides best-in-class data
center colocation services to its enterprise customers through its facilities
with fully redundant power and cooling solutions that are currently located in
the Midwest, Texas, London and Singapore. Complementing the colocation
products, Cincinnati Bell also offers complex information technology solutions
like managed services and technology staffing.

Contact:

Cincinnati Bell Inc.
Investor / Media contact:
Kim Sheehy, 513-397-7862
ksheehy@cyrusone.com
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