Shenandoah Telecommunications Company Announces Launch of Inaugural Fiber Network Asset Securitization Offering
Shenandoah Telecommunications Company (NASDAQ:SHEN) announced that Shentel Issuer, LLC, a bankruptcy-remote subsidiary, has commenced an offering of $567,405,000 aggregate principal amount of secured fiber network revenue term notes, subject to market conditions.
The Notes have an anticipated repayment date in December 2030 and will be secured by specified fiber network assets and related customer contracts primarily in Virginia, Ohio, Pennsylvania, Indiana, and Maryland. Net proceeds are intended to repay and terminate existing term loans and be used for general corporate purposes. The Notes will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, and will not be registered under the Securities Act.
Shenandoah Telecommunications Company (NASDAQ:SHEN) ha annunciato che Shentel Issuer, LLC, una controllata remota dalla procedura fallimentare, ha avviato un'offerta di $567,405,000 importo principale aggregato di note a scadenza garantite da entrate della rete in fibra, soggetta alle condizioni di mercato.
Le Notes hanno una data di rimborso prevista per dicembre 2030 e saranno garantite da specifici asset della rete in fibra e contratti con i clienti correlati, principalmente in Virginia, Ohio, Pennsylvania, Indiana e Maryland. I proventi netti sono destinati a rimborsare e terminare i prestiti a termine esistenti e a essere utilizzati per scopi aziendali generali. Le Notes saranno offerte solo a qualified institutional buyers ai sensi della Rule 144A e a soggetti non statunitensi ai sensi del Regulation S, e non saranno registrate ai sensi del Securities Act.
Shenandoah Telecommunications Company (NASDAQ:SHEN) anunció que Shentel Issuer, LLC, una subsidiaria remota de la quiebra, ha iniciado una oferta de notas con interés fijo garantizadas por ingresos de la red de fibra por un monto principal agregado de $567,405,000, sujeto a condiciones de mercado.
Las notas tienen una fecha de amortización anticipada prevista en diciembre de 2030 y serán garantizadas por activos específicos de la red de fibra y contratos con clientes relacionados, principalmente en Virginia, Ohio, Pennsylvania, Indiana y Maryland. Los ingresos netos se destinarán a pagar y terminar los préstamos a plazo existentes y a utilizarse para fines corporativos generales. Las notas se ofrecerán solo a compradores institucionales calificados bajo la Rule 144A y a personas no estadounidenses bajo el Regulation S, y no serán registradas bajo la Securities Act.
Shenandoah Telecommunications Company (NASDAQ:SHEN)은 파산 보호를 받는 자회사인 Shentel Issuer, LLC가 광섬유 네트워크 수익 매출채권의 총액 567,405,000달러의 담보로 발행을 시작했다고 발표했습니다. 이는 시장 상황에 따라 결정됩니다.
채권의 예상 상환일은 2030년 12월이며, 특정 광섬유 네트워크 자산 및 관련 고객 계약으로 담보되며 주로 버지니아, 오하이오, 펜실베이니아, 인디애나, 메릴랜드에서 발생합니다. 순수익은 기존의 기간 대출을 상환하고 종료하는 데 사용되며 일반적 기업 용도로도 사용될 예정입니다. 채권은 Rule 144A에 따라 자격을 갖춘 기관투자자와 Regulation S에 따라 미국 외 개인에게만 제공되며 Securities Act에 따라 등록되지 않습니다.
Shenandoah Telecommunications Company (NASDAQ:SHEN) a annoncé que Shentel Issuer, LLC, une filiale indépendante de la faillite, a lancé une offre d'obligations garanties par les revenus du réseau fibre d'un montant principal agrégé de $567,405,000, sous réserve des conditions du marché.
Les notes ont une date de remboursement anticipé prévue en décembre 2030 et seront garanties par des actifs du réseau fibre spécifiés et des contrats avec des clients concernés, principalement en Virginie, Ohio, Pennsylvanie, Indiana et Maryland. Le produit net est destiné à rembourser et résilier les prêts à terme existants et à être utilisé pour des besoins généraux de l'entreprise. Les notes seront offertes uniquement à des acheteurs institutionnels qualifiés en vertu de la Rule 144A et à des personnes non américaines en vertu du Regulation S, et ne seront pas enregistrées en vertu du Securities Act.
Shenandoah Telecommunications Company (NASDAQ:SHEN) gab bekannt, dass Shentel Issuer, LLC, eine insolvenzunabhängige Tochtergesellschaft, eine Emission von gesicherten Glasfasernetz-Umsatz-Term Notes in einer Gesamtnennbetrag von 567.405.000 USD eingeleitet hat, vorbehaltlich der Marktbedingungen.
Die Notes haben eine voraussichtliche Rückzahlungsfrist im Dezember 2030 und werden durch bestimmte Vermögenswerte des Glasfasernetzes und zugehörige Kundenverträge gesichert, hauptsächlich in Virginia, Ohio, Pennsylvania, Indiana und Maryland. Die Nettoerlöse sollen dazu verwendet werden, bestehende Term Loans zurückzuzahlen und zu kündigen sowie für allgemeine Geschäftszwecke eingesetzt werden. Die Notes werden nur an qualifizierte institutionelle Käufer gemäß der Rule 144A und an Personen außerhalb der USA gemäß der Regulation S angeboten und gemäß dem Securities Act nicht registriert.
Shenandoah Telecommunications Company (NASDAQ:SHEN) أعلنت أن Shentel Issuer, LLC، وهي شركة تابعة معزولة عن إجراءات الإفلاس، بدأت إصدار سندات إيرادات شبكة الألياف الضوئية المضمونة بمبلغ رئيسي إجمالي قدره $567,405,000، رهناً بظروف السوق.
تاريخ السداد المتوقع للسندات في ديسمبر 2030، وستكون مضمونة من أصول محددة لشبكة الألياف وعقود عملاء ذات صلة، وبشكل رئيسي في فيرجينيا، أوهايو، بنسلفانيا، إنديانا وميريلاند. من المتوقع أن تُستخدم العوائد الصافية لسداد وإلغاء القروض طويلة الأجل القائمة، وللاستخدام في أغراض الشركة العامة. ستُعرض السندات فقط للمشترين المؤسسيين المؤهلين بموجب Rule 144A وبموجب Regulation S للأشخاص غير الأمريكيين، ولن تُسجل وفقًا لقانون الأوراق المالية.
- $567.405M offering of secured fiber revenue notes
- Notes proceeds to repay and terminate existing term loans
- Security covers fiber assets and customer contracts in 5 states
- Notes are secured, pledging fiber assets and related contracts
- Transaction is subject to market conditions and may not close
- Offering limited to 144A/Reg S investors (not registered)
EDINBURG, Va., Nov. 17, 2025 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”) (NASDAQ:SHEN) today announced Shentel Issuer, LLC, a limited-purpose, bankruptcy remote subsidiary of Shenandoah Telecommunications Company, has commenced an offering of
Shentel intends to use the net proceeds of the offering to, among other things, repay and terminate its existing term loans and for general corporate purposes.
The Notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act or any applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States in compliance with Regulation S under the Securities Act.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Shenandoah Telecommunications Company
Shenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art fiber optic and cable networks to residential and commercial customers in eight contiguous states in the eastern United States. The Company’s services include: broadband internet, video, voice, high-speed Ethernet, dedicated internet access, dark fiber leasing, and managed network services. The Company owns an extensive regional network with over 18,000 route miles of fiber. For more information, please visit www.shentel.com.
This release contains forward-looking statements and projections about Shentel regarding, among other things, its business strategy, its prospects and its financial position. These statements can be identified by the use of forward-looking terminology such as “believes,” “intends,” “may,” “will,” “should,” or “anticipates” or the negative or other variation of these or similar words, or by discussions of strategy or risks and uncertainties. The forward-looking statements are based upon management’s beliefs, assumptions and current expectations and may include comments as to Shentel’s beliefs and expectations as to future events and trends affecting its business that are necessarily subject to uncertainties, many of which are outside Shentel’s control. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved, and actual results may differ materially from those contained in or implied by the forward-looking statements/. A discussion of factors that may cause actual results to differ from management’s projections, forecasts, estimates and expectations is available in Shentel’s filings with the Securities and Exchange Commission. Those factors may include, among others, changes in overall economic conditions including rising inflation, changes in tariffs, new or changing regulatory requirements, changes in technologies, changes in competition, changing demand for our products and services, our ability to execute our business strategies, availability of labor resources and capital, natural disasters, pandemics, and outbreaks of contagious diseases and other adverse public health developments. The forward-looking statements included are made only as of the date of the statement. Shentel undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as required by law.
CONTACT:
Shenandoah Telecommunications Company
Lucas Binder
VP Corporate Finance
540-984-4800
lucas.binder@emp.shentel.com
FAQ
What is the size and purpose of SHEN's November 17, 2025 note offering?
When is the anticipated repayment date for SHEN's new notes (SHEN)?
What assets secure the SHEN (NASDAQ:SHEN) notes being offered?
Who can buy the SHEN secured notes and are they registered under the Securities Act?
Does the SHEN offering have any closing condition investors should note?
