Suddenlink Completes $600M Debt Offering

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Suddenlink Communications said it has completed a $600 million debt offering - its second in six months - that will be used to pay down debt and for working capital and other general corporate purposes.
Suddenlink sold $600 million worth of 8.625% senior notes due 2017. The company had previously sold another $600 million in 8.625% senior notes on Nov. 5, bringing its total issuance of such debt to about $1.2 billion.
In a statement, Suddenlink said it originally sought to raise about $500 million in notes, but increased that target because of heavy demand, an accomplishment given the intense pressure in the global bond market over bad foreign debt.
Suddenlink has about 1.2 million customers in about eight states.