Bank of America Weighs Extra Collateral for Cogent Refinancing
Updated
Updated · Bloomberg · Sep 9
Bank of America Weighs Extra Collateral for Cogent Refinancing
3 articles · Updated · Bloomberg · Sep 9
Summary
Bank of America has discussed giving investors in Cogent Communications’ new money raise additional collateral as it works to refinance the internet provider, according to people familiar with the matter.
The financing could also be structured as a pari plus deal, under which new lenders would receive guarantees or an enhanced collateral package outside the existing creditor group.
That structure would make the new debt more attractive by improving lender protections while helping Cogent secure fresh funding for its refinancing effort.