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Tw Telecom Holdings Inc. Announces Early Tender Offer Results And Receipt Of Consents From A Majority Of Holders Of Its 8% Senior Notes Due 2018

Stocks in this article: TWTC

LITTLETON, Colo., Aug. 26, 2013 /PRNewswire/ -- tw telecom inc. (NASDAQ: TWTC) today announced that its subsidiary tw telecom holdings inc. (the "Company") has received and accepted for purchase approximately $406.2 million in aggregate principal amount of the Company's outstanding 8% Senior Notes due 2018 (the "Notes") validly tendered and not withdrawn by 5:00 p.m., New York City time, on August 23, 2013 (the "Consent Time"), and has received consents from holders of $406.2 million in aggregate principal amount, or approximately 94.5% of the outstanding aggregate principal amount, of the Notes as of the Consent Time.

(Logo: http://photos.prnewswire.com/prnh/20080626/LATH527LOGO)

The consents are sufficient to effect all of the proposed amendments to the indenture governing the Notes, as set forth in the Company's Offer to Purchase and Consent Solicitation Statement dated August 12, 2013 (the "Statement") and the related Letter of Transmittal and Consent pursuant to which the tender offer and the consent solicitation are being made. The amendments eliminate certain of the restrictive covenants and default provisions in the indenture governing the Notes, and shorten the redemption notice period to three business days. The Company has executed a supplemental indenture effecting the proposed amendments to the indenture, and the supplemental indenture is binding on the holders of Notes not purchased in the tender offer.

The tender offer is scheduled to expire at 11:59 p.m., New York City time, on Monday, September 9, 2013, unless extended or earlier terminated by the Company.

The Company has retained Credit Suisse Securities ( USA) LLC and Morgan Stanley & Co. LLC to serve as the dealer managers and solicitation agents, and SunTrust Robinson Humphrey, Inc. and RBC Capital Markets, LLC to serve as co-managers, for the tender offer and the consent solicitation. Questions regarding the tender offer and the consent solicitation may be directed to Credit Suisse Securities ( USA) LLC, Liability Management Group, at (800) 820-1653 (U.S. toll-free) and (212) 325-5912 (collect). Requests for documents may be directed to Global Bondholder Services Corporation, the information agent for the tender offer and the consent solicitation, at (866) 470-3800 (U.S. toll-free) and (212) 430-3774 (collect).

This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to the Notes or any other securities. The tender offer and the consent solicitation are being made solely pursuant to the Offer to Purchase and the related Letter of Transmittal and Consent, which set forth the complete terms of the tender offer and the consent solicitation.

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