Cox raising $200 million. (Cox Enterprises to issue new stock to re-finance debt)
Multichannel News, July, 1990 by Malko, Connie
Cox Raising $200 Million ATLANTA - Cox Enterprises announced last week that it will issue $200 million in new securities over the next six months to refinance existing debt. The move will lengthen overall debt maturity in a period of reasonable interest rates, said John Dillon, vice president and CFO.
Notes in the amount of $25 million were sold July 16 at interest rates ranging from 9.25 to 9.5 percent, Dillon said. The family-controlled company is trying to take advantage of a new Securities and Exchange Commission classification that went into effect in April allowing the private notes to be placed for active trade in secondary markets without requiring registration and public disclosure with the SEC. The liquidity shaves interest costs, while...
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