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EarthLink to Sell Notes

The $225 million of senior notes are being offered publicly.



plans to sell $225 million of senior notes in a public offering.

As part of the offering for the convertible senior notes due 2026, EarthLink will grant the underwriters an over-allotment option to purchase up to $33.8 million more notes within 30 days.

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EarthLink plans to use a portion of the proceeds from the offering to fund convertible note hedge transactions that the Internet service provider expects to enter into with one or more financial institutions, which may be affiliates of the underwriters.

UBS and Banc of America are acting as joint book-running managers of the offering.

Shares of EarthLink were down 54 cents, or 7.9%, at $6.26 in recent trading Monday.