Jun. 1 at 10:23 PM
$VG . (the "Issuer"), has priced
$1.125 billion aggregate principal amount of its 6.375% senior secured notes due 2034 and
$1.125 billion aggregate principal amount of its 6.625% senior secured notes due 2036 (collectively, the "Notes"), in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A. This is what you see when the market supports the company's future. Only strong earning and proof of concepts can earn low rates. So they retired and replaced old debt with a much lower interest rate (a sign the company is a lower risk to the lender). INCREDIBLE! Their credit rating will be upgraded soon - increasing future earnings.
