Windstream, Lexington's local telephone provider, announced last week it will offer $500 million in bonds for sale in a private placement to pay for its previously announced acquisition of business telecommunications company Q-Comm Corp. The 7.75-percent notes would come due in 2020, according to a news release.
The $782 million purchase of Kansas-based Q-Comm will help Windstream expands its broadband and business telecommunications revenue. Q-Comm subsidiary Kentucky Data Link provides fiber-based communication and data services in 22 states and has 400 employees. Subsidiary Norlight serves 5,500 small and medium-size business customers primarily in the Midwest and has 200 employees. Both companies are based in Evansville, Ind.
The deal is expected to close in the fourth quarter.