ENGLEWOOD, Colo.-ICG Holdings Inc., a subsidiary of ICG Communications Inc., is offering $100 million of senior discount notes and $100 million of exchangeable preferred stock.
The company said the senior discount notes are 10-year notes maturing 2007, will pay no interest in cash for the first five years and are guaranteed on a senior unsecured basis by ICG. The preferred stock will be mandatorily redeemable in 2008 and is exchangeable prior to that into senior subordinated exchange debentures.
