Cogent Launches Notes Offering

11/28/16

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) today announced that Cogent Communications Group, Inc., a wholly owned subsidiary of Cogent Communications, intends to commence a tack-on offering of an additional $125 million aggregate principal amount of its 5.375% Senior Secured Notes due 2022 (the "Notes") to be offered and sold only to qualified institutional buyers in an unregistered offering pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"). The Notes will be guaranteed by Cogent's domestic subsidiaries, subject to certain exceptions, and by Cogent Communications. Cogent Communications' guarantee will be unsecured and Cogent Communications will not be subject to the covenants under the indenture governing the Notes. If the offering is consummated, Cogent expects to use the proceeds from the offering to pay a $56.6 million cash dividend to Cogent Communications and for general corporate purposes, and/or to repurchase Cogent Communications' common stock or to pay additional dividends to Cogent Communications' stockholders. There can be no assurance that the issuance and sale of the Notes will be consummated.

About Cogent Communications

Cogent Communications (NASDAQ: CCOI) is a multinational, Tier 1 facilities-based ISP. Cogent specializes in providing businesses with high speed Internet access, Ethernet transport, and colocation services. Cogent Communications' facilities-based, all-optical IP network backbone provides services in over 190 markets globally.

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