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GCI Prices Debt Offering

$425 Million To Refinance Credit Facility

Mike Farrell -- Multichannel News, 10/30/2009 10:35:33 AM

Alaskan MSO General Communication Inc., priced a $425 million debt offering late Thursday that will be used to retire its outstanding senior secured credit facility and for general corporate purposes.

The offering of 8.625% Senior Notes due 2019, made through its wholly-owned subsidiary GCI Inc., is expected to close on Nov. 3, subject to customary closing conditions.

The transaction was led by Deutsche Bank, with RBC Capital Markets, Calyon Securities and Morgan Stanley acting as joint bookrunners.

GCI is the top provider of video, voice and data service in Alaska, and boasts a 70% share of the consumer broadband market in the state.

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