RCN plans Tuesday roadshow start for $300 million seven-year notes

By Paul A. Harris

Portland, Ore., July 29 - RCN Telecom Services, LLC and RCN Capital Corp. plans to start a roadshow on Tuesday for its $200 million offering of seven-year senior notes, according to an informed source.

The deal is expected to price on Aug. 5.

Credit Suisse Securities (USA) LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners for the Rule 144A and Regulation S for life notes offering.

The notes become callable in three years at par plus 75% of the coupon and feature a three-year 40% equity clawback and a 101% poison put.

The cable company plans to use the proceeds to fund a shareholder dividend.

RCN operates in Boston, Chicago, Washington, D.C., Lehigh Valley, Pa., New York City and Philadelphia.

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