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Technology Stocks : Ascend Communications (ASND)

ASND 209.15

-1.5%

Nov 20 3:59 PM EST

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To: Thomas M. who wrote (56422)	10/23/1998 10:38:00 AM
From: Thomas M.	Read Replies (1) of 61433

This morning on Squawk Box, David Faber reported that the junk bond offering by this small CLEC has been successfully completed. biz.yahoo.com McLeodUSA Proposed Private Debt Offering -- Update CEDAR RAPIDS, Iowa,--(BUSINESS WIRE)--Oct. 22, 1998--McLeodUSA Incorporated (NASDAQ/NMS:MCLD - news), announced today an update of its plans for a proposed private offering of senior notes. The Company now plans to raise approximately $300 million due November 1, 2008 in a proposed offering of 9.5% senior notes to "qualified institutional buyers" as defined in Rule 144A under the Securities Act of 1933 and pursuant to offers and sales that occur outside the United States in accordance with Regulation S under the Securities Act of 1933. The senior notes proposed to be offered by McLeodUSA will not be registered under the Securities Act of 1933 or any state securities laws and, unless so registered may not be offered or sold except pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state securities laws.

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