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tw telecom
TWTC
today announced that its subsidiary, tw telecom holdings inc., has closed its
previously announced private offering of $480 million aggregate principal
amount of 5.375 % Senior Notes due 2022.
The company plans to use the net proceeds from the offering to settle the
conversion obligations for the tw telecom inc. 2 3/8% Convertible Senior
Debentures due 2026 to the extent holders elect to convert their debentures
and the company elects to settle the conversion obligations in whole or in
part in cash, or if the company otherwise redeems the debentures. The
Convertible Senior Debentures are redeemable at the company's option on or
after April 6, 2013. Any net proceeds not used for these purposes will be used
for general corporate purposes. Pending the application of the net proceeds to
these uses, the company plans to invest the proceeds in cash equivalents.
The senior 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.
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