A map of Cogent's global IP network
(WEB HOST INDUSTRY REVIEW) — Colocation and Internet services provider Cogent Communications Group (www.cogentco.com) announced on Monday it is proposing to offer $150 million of senior secured notes due 2018.
Cogent says the offer is in a private placement, meaning the notes will be “offered and sold only to qualified institutional buyers in reliance on Rule 144A and to persons living outside the US in reliance on Regulation S.”
The proceeds of the offering will be used for “general corporate purposes and/or repurchases of Cogent’s common stock or its convertible notes or a special dividend to Cogent’s stockholders,” says the company.
The notes to be offered have not been registered under the United States Securities Act of 1933. As a result, these notes may not be offered or sold in the US.
Last week, US telcommunications provider Windstream also announced its own proposed senior notes offer where it intends to offer $200 million of 7.75 percent senior notes due 2020.
Cogent provides Internet access and data transport services out of its 41 data centers. The company’s network spans across North America, across the Atlantic and throughout Western Europe.
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