Cox Communications Announces Closing of Exchangeable Subordinated Discount Debentures.Business Editors ATLANTA--(BUSINESS WIRE)--April 20, 2000 Cox Communications, Inc. (NYSE NYSE See: New York Stock Exchange :COX) today announced consummation of the offering of Exchangeable Subordinated Discount Debentures due 2020 resulting in net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $682.5 million ("Discount Debentures"). The aggregate principal amount at maturity of the Discount Debentures amounts to approximately $1.6 billion. Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. and Merrill Lynch & Co. acted as joint book-running managers for the offering. Prior to April 19, 2002, the Discount Debentures are exchangeable at the option of the holder for cash in an amount based on the value of the underlying reference property, which are initially shares of Sprint PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. stock. On or after that date, the Discount Debentures can be exchanged by the holders for, at Cox's option, cash, the underlying reference property or a combination of both. A more detailed description of the terms of the Discount Debentures and the offering is available in the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. supplement, dated April 13, 2000, as supplemented and filed with the SEC on April 18, 2000. The Discount Debentures are listed and traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE) under the trading symbol Trading symbol See: Ticker symbol "COX DC20." Cox Communications, Inc. serves approximately 6 million customers nationwide, making it the nation's fifth largest cable television company. A full-service provider of telecommunications products, Cox offers an array of services, including cable television under the Cox Cable brand; local and long distance telephone services under the Cox Digital Telephone brand; high-speed Internet access under the brands Cox@Home, Road Runner and Cox Express; advanced digital video programming services under the Cox Digital Cable brand; and commercial voice and data services via Cox Business Services. Cox is an investor in telecommunications companies including Sprint PCS and Excite@Home, as well as programming networks including Discovery Channel, The Learning Channel, Outdoor Life and Speedvision. More information about Cox Communications can be accessed on the Internet at www.cox.com. |
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