Cogent Communications holders may put back 1% convertibles on June 16

By Jennifer Chiou

New York, May 14 - Cogent Communications Group, Inc. announced that holders of its 1% convertible senior notes due 2027 have the option to require the company to purchase their notes on June 16 at par.

If all outstanding notes are surrendered for purchase under the put option, Cogent said that the cash purchase price will be $91,978,000, plus accrued interest to June 15.

The deadline to surrender the convertibles is 5 p.m. ET on June 12.

The issuer is a Washington, D.C.-based internet backbone network services provider.

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