Outage Prompts RCN to Extend Offer


The lights went out, but the sale goes on.

The biggest power outage in U.S. history prompted RCN Corp. to extend its
tender offer for between $250 million-$290 million in outstanding senior notes
from the original Aug. 15 deadline to Monday.

Investors have until 5 p.m. EST to opt into the tender offer, which so far
has included $75.1 million in notes.

Back in July, the Princeton, N.J.-based competitive cable provider started up
a modified Dutch auction to buy back notes so long as the holders agreed to a
price range between $320-$370 for every $1,000 in note value plus accrued and
unpaid interest.