February 20, 2017 5:39 PM ET

Diversified Telecommunication Services

Company Overview of Consolidated Communications, Inc.

Company Overview

Consolidated Communications, Inc. provides integrated communication services including voice, data, and broadband. The company was incorporated in 2002 and is headquartered in Mattoon, Illinois. Consolidated Communications, Inc. operates as a subsidiary of Consolidated Communications Holdings Inc.

121 South 17th Street

Mattoon, IL 61938-3987

United States

Founded in 2002

Phone:

217-235-3311

Fax:

217-233-4011

Key Executives for Consolidated Communications, Inc.

Consolidated Communications, Inc. does not have any Key Executives recorded.

Consolidated Communications, Inc. Key Developments

Consolidated Communications, Inc. Enters into Senior Secured Incremental Term Loan Facility

Consolidated Communications, Inc. entered into a Commitment Letter from (i) Morgan Stanley Senior Funding, Inc., (ii) The Bank of Tokyo-Mitsubishi UFJ Ltd., MUFG Union Bank, N.A., MUFG Securities Americas Inc. (collectively, MUFG) and/or any other affiliates or subsidiaries as MUFG collectively deems appropriate to provide the services referred to therein, (iii) TD Securities (USA) LLC, (iv) The Toronto-Dominion Bank, New York Branch, and (v) Mizuho Bank Ltd. (collectively, the Lead Arrangers). The Commitment Letter provides for a senior secured incremental term loan facility in an aggregate principal amount that will yield up to $865,000,000 in gross proceeds to CCI (the Incremental Term Loan Facility) and a senior unsecured term loan facility in an aggregate principal amount that will yield up to $70,000,000 in gross proceeds to CCI (the Unsecured Term Loan Facility), provided that the commitments under the Unsecured Term Loan Facility shall be automatically and permanently reduced to zero and cancelled if, within 90 days following the date of the Commitment Letter, CCI obtains an amendment, reasonably satisfactory to the Lead Arrangers, to the terms of the Third Amended and Restated Credit Agreement, dated as of October 5, 2016, among the Company, CCI, the lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent and other agents party thereto (the Credit Agreement) (and such amendment goes effective within such period) (the Amendment) allowing for an additional aggregate amount of at least $70,000,000 to be incurred as a senior secured incremental term loan credit facility pursuant to Section 2.21 of the Credit Agreement and the commitments to provide the Incremental Term Loan Facility shall be automatically and permanently increased, on a pro rata basis, by an amount equal to $70,000,000 upon effectiveness of the Amendment.

Consolidated Communications, Inc. Completes the Sale of 6.50% Senior Notes Due 2022

Consolidated Communications Holdings, Inc. announced that its wholly-owned subsidiary, Consolidated Communications, Inc. completed the previously announced sale of $300.0 million in aggregate principal amount of 6.50% Senior Notes due 2022. The New Notes were priced at 98.26% of par to yield 6.804% to maturity and resulted in total gross proceeds of approximately $294.8 million, excluding accrued interest. The New Notes are additional notes under an indenture pursuant to which the Issuer previously assumed the $200.0 aggregate principal amount of 6.50% Senior Notes due 2022 initially issued by Consolidated Communications Finance II Co. The New Notes will be fully fungible with, rank equally to, and be treated as a single series with the Existing Notes and will have the same terms as the Existing Notes. The New Notes and the Existing Notes will vote as one class for all purposes under the indenture governing the Notes. The New Notes were sold in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States pursuant to Regulation S under the Securities Act.

Consolidated Communications Announces Pricing of Senior Notes

Consolidated Communications, Inc. priced an offering of $300.0 million in aggregate principal amount of 6.50% senior notes due 2022. The new notes were priced at 98.26% of par to yield 6.804% to maturity and will result in total gross proceeds of approximately $294.8 million. The new notes are additional notes under an indenture pursuant to which the Issuer previously assumed the $200,000,000 aggregate principal amount of 6.50% senior notes due 2022, initially issued by Consolidated Communications Finance II Co. Consolidated intends to use the net proceeds of the Offering to redeem all of the Issuer's outstanding 10.875% senior notes due 2020, to repay a portion of outstanding borrowings under the Issuer's revolving credit facility and to pay related fees and expenses. The new notes will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States pursuant to Regulation S under the Securities Act. The New Notes and the related guarantees 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 absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

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