“The offering is favorable in that it will lower its annual interest costs because of the significantly lower rate on the bonds,” Dave Novosel, a senior bond analyst at research firm Gimme Credit, said on Monday. “In addition, the deal extends the company’s maturity schedule, adding to its liquidity position.”
"Although the company added nearly US$500m in new [fiber] contracts, bringing the total to almost US$9bn, revenue growth is probably a few years away," Novosel wrote in a note on Monday.