TK Junk Mail
Drop dead to the DDos scum
Premium
join:2002-03-03
Margate City, NJ
 ·Comcast
edit:
March 28th, @08:05PM
|  NH/Vermont rethinking Fairpoint deal due to bond rates
New Hampshire and Vermont regulators will hold separate emergency meetings Sunday to reconsider Verizon's $2.35 billion sale of its voice and Internet land lines in northern New England.
When the buyer, North Carolina-based FairPoint Communications, tried this week to sell $550 million in bonds to help finance the purchase, the best interest rate it could get was 13.5 percent, said Donald Kreis, general counsel for the New Hampshire Public Utilities Commission.
When the commission approved the sale in February, it believed FairPoint showed the deal was for the public good, and the anticipated interest rate was 8.5 percent, Kreis said.
The higher rate will cost FairPoint $17 million more per year in interest payments on the 10-year bonds, he said.
The Vermont Public Service Board's meeting is set for 2 p.m. Sunday in Montpelier. The New Hampshire PUC will meet at 3 p.m. in Concord.
--
My BLOG .. .. Internet News .. .. My Web Page |
