PAETEC Holding Corp. (PAET) Commences $350M Offering of Senior Secured Notes
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PAETEC Holding Corp. (NASDAQ: PAET) announced that it plans to offer $350 million aggregate principal amount of senior secured notes due 2017 in a private offering to "qualified institutional buyers" as defined in Rule 144A under the Securities Act of 1933 and outside the United States in reliance on Regulation S under the Securities Act.
The net proceeds from the offering will be used to repay term loans outstanding under PAETEC's existing credit facilities.
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