Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has just announced the pricing of $174,400,000 aggregate principal amount of secured internet protocol version 4 ("IPv4") address revenue term notes, 6.646% series 2025-1. These notes will have an anticipated repayment term of five years and will be secured by certain of Cogent’s IPv4 addresses, customer IPv4 address leases, and customer accounts receivables.
This offering is expected to close on or around April 11, 2025, subject to satisfaction of various closing conditions. It's important to note that the notes are being offered and sold in the United States only to qualified institutional buyers and outside the US to certain non-US persons.
Cogent Communications is a facilities-based provider of low-cost, high-speed internet access and private network services to bandwidth-intensive businesses. The company's facilities-based, all-optical IP network provides services in 264 markets globally.
It's worth noting that Cogent Communications is headquartered in Washington, D.C., and can be reached at (202) 295-4200 or via email at [email protected].
This announcement reflects Cogent's strategic move to secure financing for general corporate purposes, and it will be interesting to see how this offering impacts the company's financial position and operations in the coming years. Following these announcements, the company's shares moved -3.6%, and are now trading at a price of $54.87. Check out the company's full 8-K submission here.
