tw telecom Announces Closing of Private Placement of Senior Notes
LITTLETON, Colo., Aug. 26, 2013 /PRNewswire/ -- tw telecom inc. (NASDAQ: TWTC) today announced that its subsidiary tw telecom holdings inc. has closed its previously announced private offering of $800 million of Senior Notes (the "Notes"), including $450 million in aggregate principal amount of 5.375% Senior Notes due 2022 and $350 million in aggregate principal amount of 6.375% Senior Notes due 2023. As previously announced, the 5.375% Senior Notes were priced to investors at 96.250% of their principal amount and the 6.375% Senior Notes were priced to investors at 100.00% of their principal amount.
The company plans to use the net proceeds from the offering to fund the repurchase of any and all of tw telecom holdings inc.'s 8% Senior Notes due 2018 that are tendered in a concurrent cash tender offer and for general corporate purposes. Pending the application of the net proceeds to these uses, the company plans to invest the proceeds in cash equivalents.
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes. Any offers of the Notes were made only by means of a private offering circular. The Notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Some of the statements made in this press release are forward-looking statements that reflect management's current views and expectations with respect to future events. These forward-looking statements are not a guarantee of future events and are subject to a number of risks and uncertainties, many of which are outside the Company's control and which could cause actual events to differ materially from those expressed or implied by the statements. These risks and uncertainties are based on a number of factors, including but not limited to: the current conditions in the public debt market, the current uncertainty in the global financial markets and the global economy, the Company's and tw telecom's substantial indebtedness and the restrictive covenants imposed by that indebtedness, as well as the business risks disclosed in tw telecom's SEC filings, especially the sections entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2012 and in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. tw telecom undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE tw telecom inc.
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