GCI Liberty Completes Issuance of $325 million Offering of New Senior Notes due 2024
GCI LIBERTY (GLIBA)
Last gci liberty earnings: 11/11 04:15 pm
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Source: Business Wire
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- GCI Liberty, Inc. (Nasdaq: GLIBA, GLIBP) announced today that its wholly-owned subsidiary, GCI, LLC (the “Issuer”) has completed the previously announced sale to initial purchasers in a private offering of $325 million of new 6.625% senior notes due 2024 (the “2024 Notes”). The 2024 Notes are unsecured obligations of the Issuer. The net proceeds of the offering, together with cash on hand, will be used to fund the redemption of the Issuer’s $325 million aggregate outstanding principal amount of 6.75% Senior Notes due 2021 (the “2021 Notes”), which are callable at par. In accordance with the indenture governing the 2021 Notes, the Issuer has issued an irrevocable notice of redemption with respect to all outstanding 2021 Notes. The redemption date is July 6, 2019. The offering was made pursuant to an exemption under the Securities Act of 1933, as amended (the “Securities
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