Consolidated Communications Holdings, Inc. - CNSL STOCK NEWS

Consolidated Communications (CNSL) announced the pricing of a $750M offering of 6.500% senior secured notes due in 2028. The notes, priced at par, will provide gross proceeds for refinancing existing debt and costs related to a strategic investment from Searchlight Capital Partners. This offering is $250M less than previously expected and will close around October 2, 2020. These notes will not be registered under the Securities Act and are available only to qualified institutional buyers. The company warns of potential risks, including the impact of COVID-19 and uncertainties related to the planned investment.

Consolidated Communications (NASDAQ: CNSL) announced flexible broadband Internet plans tailored for small and medium-sized businesses, featuring simplified pricing without data limits. The new FiberConnect plans offer symmetrical upload and download speeds up to 1 Gig, while BizConnect plans deliver speeds of up to 100 Mbps. These plans include 30-day money-back guarantees and 24/7 technical support. Businesses can choose flexible contract lengths of up to three years, benefiting from locked-in pricing. Consolidated's fiber network spans 46,000 miles, positioning it among the top 10 fiber providers in the U.S.

Consolidated Communications Holdings (NASDAQ: CNSL) announced a plan to offer $1 billion in Senior Secured Notes due 2028 through its subsidiary, Consolidated Communications, Inc. The proceeds will be used to redeem existing 6.50% Senior Notes due 2022, repay debt under its credit facility, and cover related fees. The offering targets qualified institutional buyers and follows regulatory guidelines. The company's advanced fiber network supports its service offerings across 23 states, enhancing connectivity and technology solutions for various sectors.

Consolidated Communications announced a strategic investment of $425 million from Searchlight Capital Partners to bolster its fiber infrastructure. This investment will significantly reduce net debt by $325 million and extend maturity schedules for its existing $2 billion debt, enhancing liquidity. The company expects to reach a net leverage ratio of 3.5x following the investment, improving service delivery to 1.4 million customers and increasing 1Gbps coverage. The first stage of the investment is set to close soon, with further regulatory approvals required for the second stage.

Consolidated Communications (CNSL) has initiated the development of five new fiber networks in Cheshire County, N.H., partnering with local towns to enhance broadband access. The $13 million project, funded by a $4 million company investment, aims to provide fast, reliable internet to all homes and businesses in Dublin, Harrisville, Rindge, Walpole, and Westmoreland. Construction is set to begin with order fulfillment by early 2021. The initiative highlights the importance of dependable broadband for remote work and education, particularly during the pandemic.

Consolidated Communications (NASDAQ: CNSL) has announced an $18 million investment to enhance broadband services in New Hampshire. The company received $3.5 million in grants to build fiber-to-the-premises Internet networks in Danbury, Springfield, and Mason, benefiting over 2,500 residents. Consolidated has invested more than $112 million in the last two years to improve connectivity in rural areas. The initiative is part of the Connecting New Hampshire - Emergency Broadband Expansion Program, aimed at addressing increased Internet demands due to COVID-19.

Consolidated Communications Holdings reported stable financial performance in Q2 2020, with revenue of $325.2 million and Adjusted EBITDA of $133.1 million, up 1.3%. Consumer Broadband revenue grew by 2.3%, marking the fifth consecutive growth quarter. Operating expenses were reduced by $17.6 million, resulting in improved net debt leverage of 4.14x. Free cash flow increased by $39.4 million for the quarter and $89.3 million year-to-date. Despite a 2.5% decline in total revenue compared to last year, net income turned positive at $13.9 million.

Consolidated Communications (NASDAQ: CNSL) has launched its Enterprise@Home solution aimed at enhancing remote work capabilities for businesses. This service provides business-class internet and unified communications, alleviating productivity challenges for remote employees. With features like dedicated connections and priority support, businesses can manage employee networks efficiently. The solution also offers enhanced security for data protection through continuous monitoring. Currently available in Northern New England, the service is adaptable based on employee needs and allows for simplified billing and management.