Cogent Communications Holdings, Inc. announced the pricing of $174.4 million aggregate principal amount of secured Internet Protocol version 4 (IPv4) address revenue term notes, 6.646% Series 2025-1. These notes are designed with an anticipated repayment term of five years.
The offering is secured by certain of Cogent's IPv4 addresses, customer IPv4 address leases, and associated customer accounts receivables. This strategy allows Cogent to monetize a valuable digital asset that has become increasingly scarce.
The net proceeds from this securitization offering are intended for general corporate purposes. The transaction is expected to close on or around April 11, 2025, subject to the satisfaction of various closing conditions.
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