tw telecom holdings inc. Announces Successful Completion of Its Tender Offer for and Redemption of Its 9 1/4% Senior Notes Due 2014
LITTLETON, Colo., March 31 /PRNewswire-FirstCall/ -- tw telecom inc. (Nasdaq: TWTC) today announced the expiration of the previously announced tender offer of its subsidiary, tw telecom holdings inc. (the "Company"), for any and all of the Company's outstanding 9 1/4% Senior Notes due 2014 (the "Notes"), as specified in the Company's Offer to Purchase and Consent Solicitation Statement dated March 3, 2010 (the "Statement"). The tender offer expired at 11:59 p.m., New York City time, on March 30, 2010 (the "Expiration Date"). The full terms and conditions of the tender offer and the related consent solicitation are set forth in the Statement and related Letter of Transmittal and Consent, as amended by the press release related to the tender offer issued by the Company on March 17, 2010 (the "Press Release").
As previously announced, on March 17, 2010, the Company purchased approximately $366.5 million aggregate outstanding principal amount of the Notes that were validly tendered and not validly withdrawn by 5:00 p.m., New York City time, on March 16, 2010 (the "Consent Date"). The Company has today received and accepted for purchase $0.55 million aggregate outstanding principal amount of the Notes validly tendered subsequent to the Consent Date and prior to the Expiration Date. The Company purchased all such Notes for the tender offer consideration of $1,030.83 for every $1,000 of principal amount of Notes tendered, plus accrued and unpaid interest, as set forth in the Press Release.
Also, the Company today redeemed all of the Notes that remained outstanding after the consummation of the tender offer. Holders of such Notes will receive the redemption price of $1,030.83 for every $1,000 of principal amount of Notes, plus accrued and unpaid interest.
Credit Suisse Securities (USA) LLC served as the dealer manager and solicitation agent in connection with the tender offer and the consent solicitation. Questions regarding the tender offer and consent solicitation may be directed to Credit Suisse Securities (USA) LLC, Liability Management Group, at (800) 820-1653 (US toll-free) and (212) 325-5912 (collect).
This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any securities. The tender offer and consent solicitation were made solely pursuant to the Statement and the related Letter of Transmittal and Consent, as amended by the Press Release, which set forth the complete terms of the tender offer and consent solicitation.
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, 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, disruptions in the financial markets that could affect the Company's ability to complete the tender offer and consent solicitation, the Company's and tw telecom's substantial indebtedness, as well as the business risks disclosed in tw telecom's SEC filings, especially the section entitled "Risk Factors" in its 2009 Annual Report on Form 10-K. 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.
About tw telecom
tw telecom inc., headquartered in Littleton, CO, provides managed network services, specializing in Ethernet and data networking, Internet access, local and long distance voice, VPN, VoIP and network security, to enterprise organizations and communications services companies throughout the U.S., including their global locations. As a leading provider of integrated and converged network solutions, tw telecom delivers customers overall economic value, quality service, and improved business productivity.
SOURCE tw telecom inc.