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Waterfall

Cox Communications Announces Pricing of Waterfall Cash Tender Offers

ATLANTA , Aug.andnbsp;Cox Communications, Inc. (“Cox”), a wholly owned subsidiary of Cox Enterprises, Inc., today announced the pricing of its previously announced cash tender offers to purchase its outstanding 8.375% Notes due 2039, 6.950% Notes due 2038, 6.450% Notes due 2036, 6.950% Notes due 2028 and 6.800% Notes due 2028, subject to certain previously announced caps (such offers, the “Waterfall Offers”). The terms and conditions of the Waterfall Offers, including such caps, are set forth in the related Offer to Purchase dated July 24, 2017 (as amended by Cox’s press release dated August 7, 2017 announcing certain amendments thereto, the “Waterfall Offer to Purchase”) and the related Letter of Transmittal dated July 24, 2017 (as amended by Cox’s press release dated August 7, 2017 announcing certain amendments thereto, the “Waterfall Letter of Transmittal”). Capitalized terms used but not defined herein have the meanings ascribed to them in the Waterfall Offer to Purchase. Click here for more.


Cellular News

Cox Communications Announces Certain Amendments to Waterfall Cash Tender Offers

ATLANTA , Aug.andnbsp;Cox Communications, Inc. (“Cox”), a wholly owned subsidiary of Cox Enterprises, Inc., today announced amendments to its previously announced cash tender offers (the “Waterfall Offers”) to purchase its outstanding 8.375% Notes due 2039, 6.950% Notes due 2038, 6.450% Notes due 2036, 6.950% Notes due 2028 and 6.800% Notes due 2028 (collectively, the “Waterfall Notes”), subject to certain caps and upon the terms and conditions set forth in the related Offer to Purchase (the “Waterfall Offer to Purchase”) and the related Letter of Transmittal (the “Waterfall Letter of Transmittal”). With respect to the Waterfall Offers, Cox (1) amended the expected Total Consideration payable with respect to (x) the 8.375% Notes due 2039 by decreasing the fixed spread from 255 bps to 240 bps and (y) the 6.450% Notes due 2036 by decreasing the fixed spread from 250 bps to 235 bps, which changes are reflected in the table below, (2) extended the Early Tender Deadline for all Waterfall Notes from 5:00 p.m. , New York City time, on August 4, 2017 to 5:00 p.m. , New York City time, on August 9, 2017 and (3) changed the Price Determination Date for all Waterfall Notes from 11:00 a.m. , New York City time, on August 7, 2017 to 11:00 a.m. , New York City time, on August 10, 2017 . Accordingly, Cox now expects the Early Settlement Date for the Waterfall Offers to occur on August 11, 2017 , rather than August 8, 2017 . The fixed spreads applicable to the other series of Waterfall Notes set forth in the table below are unchanged. Capitalized terms used but not defined herein have the meanings ascribed to them in the Waterfall Offer to Purchase. Click here for more.


Cellular News