Key Developments: Cincinnati Bell Inc (CBB)
3.51USD
22 May 2013
$-0.14 (-3.84%)
$3.65
$3.65
$3.67
$3.49
1,699,429
4,377,961
$5.89
$2.84
Latest Key Developments (Source: Significant Developments)
Cincinnati Bell Inc Reaffirms FY 2013 Guidance
Cincinnati Bell Inc reaffirmed its fiscal 2013 guidance and expects revenue to be $1.2 billion and adjusted EBITDA of approximately $390 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.2 billion and EBITDA of $382 million for fiscal 2013. Full Article
Cincinnati Bell Inc Issues FY 2013 Guidance Below Analysts' Estimates
Cincinnati Bell Inc announced that for fiscal 2013, it expects revenue to be $1.2 billion and adjusted EBITDA of approximately $390 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.39 billion and EBITDA of $481 million for fiscal 2013. Full Article
Cincinnati Bell Inc Names Ted Torbeck As CEO
Cincinnati Bell Inc announced that Ted Torbeck has been named Chief Executive Officer(CEO) of the Company and member of the Board of Directors. He succeeds Jack Cassidy, who has been elected Vice Chairman of the Board. Formalized by the Board in a vote this morning and effective immediately, the move is part of Cincinnati Bell`s established succession plan. Full Article
Cincinnati Bell Inc Prices Initial Public Offering Of Common Stock
Cincinnati Bell Inc announced that CyrusOne Inc., its wholly owned subsidiary that owns and operates Cincinnati Bell's data center business, has priced the previously announced initial public offering of 16,500,000 shares of its common stock at a price to the public of $19.00 per share. All of the shares of common stock are being offered by CyrusOne. The underwriters have been granted an option to purchase up to 2,475,000 additional shares of common stock from CyrusOne at the initial public offering price, less underwriting discounts and commissions. CyrusOne's common stock has been approved for listing on the NASDAQ Global Select Market under the symbol "CONE," subject to official notice of issuance. Upon completion of this offering, Cincinnati Bell expects to effectively own approximately 72% of CyrusOne through its interests in the outstanding shares of common stock of CyrusOne and its interests in the common units of limited partnership interest of CyrusOne's operating partnership, CyrusOne LP, which are exchangeable into shares of common stock of CyrusOne. Morgan Stanley, BofA Merrill Lynch, Deutsche Bank Securities and Barclays are acting as joint-bookrunners for the offering. Citigroup, KeyBanc Capital Markets, RBS and UBS Investment Bank are acting as co-managers. Full Article
Cincinnati Bell Inc's CyrusOne Inc Commences Initial Public Offering Of Common Stock
Cincinnati Bell Inc announced that CyrusOne Inc., wholly owned subsidiary that owns and operates Cincinnati Bell's data center business, has commenced the initial public offering of 16,500,000 shares of common stock. All of the shares of common stock are being offered by CyrusOne. The estimated price range for the initial public offering is $16.00 to $18.00 per share. The underwriters will be granted an option to purchase up to 2,475,000 additional shares of common stock from CyrusOne at the initial public offering price, less underwriting discounts and commissions. CyrusOne has applied to list common stock on the NASDAQ Global Select Market under the symbol CONE. Upon completion of this offering, Cincinnati Bell expects to effectively own approximately 71.6% of CyrusOne through interests in the outstanding shares of common stock of CyrusOne and interests in the common units of limited partnership interest of CyrusOne`s operating partnership, CyrusOne LP, which are exchangable into shares of common stock of CyrusOne. Morgan Stanley & Co. LLC and BofA Merrill Lynch are acting as joint-book runners for the offering. Full Article
Cincinnati Bell Inc's Subsidiaries Announces Pricing of Offering of $525 Million of CyrusOne Senior Notes
Cincinnati Bell Inc announced the pricing of the previously announced offering of Senior Notes due 2022 by its wholly owned subsidiaries CyrusOne LP and CyrusOne Finance Corp. The offering was increased from $500 million to $525 million in aggregate principal amount. The Notes will be guaranteed by CyrusOne Inc. and certain of its subsidiaries. The Notes will have an interest rate of 6.375% per annum and will be issued at a price equal to 100% of their face value. The net proceeds from the offering will be approximately $511 million, after deducting commissions and expenses payable by the Issuers. The Issuers anticipate using $480 million of the net proceeds from the sale of the Notes to repay related party notes payable to Cincinnati Bell, with the remaining $31 million being retained by CyrusOne LP for working capital, capital expenditures and general corporate purposes. Cincinnati Bell intends to use the proceeds received from CyrusOne to redeem its outstanding 7% Senior Notes due 2015 and certain of the Cincinnati Bell Telephone notes due 2023, to conduct a tender offer for a portion of its 8.25% Senior Notes due 2017 and its 8.375% Senior Notes due 2020, and to repay other debt. Full Article
Cincinnati Bell Inc Reaffirms FY 2012 Guidance
Cincinnati Bell Inc. reaffirmed its fiscal 2012 guidance and expects revenue of $1.5 billion and adjusted EBITDA of approximately $530 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.5 billion and EBITDA of $530 million for fiscal 2012. Full Article
Cincinnati Bell Inc. Reaffirms FY 2012 Guidance
Cincinnati Bell Inc. reaffirmed fiscal 2012 guidance and expects revenue of $1.5 billion and adjusted EBITDA of approximately $530 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.5 billion and EBITDA of $530 million for fiscal 2012. Full Article
Cincinnati Bell Inc's CyrusOne Inc. Files Registration Statement For Proposed Initial Public Offering
Cincinnati Bell Inc announced that CyrusOne Inc., the wholly owned subsidiary that owns and operates Cincinnati Bell’s data center business, has filed a registration statement on Form S-11 with the Securities and Exchange Commission (SEC) in connection with CyrusOne’s proposed initial public offering of its common stock. A portion of the proceeds from the Initial Public Offering (IPO) will be used to repay outstanding indebtedness of CyrusOne owed to Cincinnati Bell. Morgan Stanley & Co. LLC and BofA Merrill Lynch will act as joint book-running managers. Full Article
Cincinnati Bell Inc Reaffirms FY 2012 Guidance
Cincinnati Bell Inc announced that for fiscal 2012, it reaffirms its guidance for revenue of $1.5 billion and adjusted EBITDA of approximately $530 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.5 billion for fiscal 2012. Full Article
Fitch Affirms and Withdraws All Ratings for Cincinnati Bell
(The following statement was released by the rating agency) CHICAGO, April 12 (Fitch) Fitch Ratings has affirmed and simultaneously withdrawn all of its ratings on Cincinnati Bell, Inc. (CBB) and its subsidiary as follows: Cincinnati Bell, Inc. --Issuer Default Rating (IDR) at 'B'; --$40 million senior secured notes at 'BB/RR1'; --$500 million senior unsecured notes due 2017 at 'B+/RR3'; --$684 million senior unsecured notes due 2020 at 'B+/RR3'; --$625 million senior subordinated notes at '
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