Subsequent Events Subsequent Events

3 Months Ended

Mar. 31, 2017

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

Proposed Wilcon Acquisition

On April 17, 2017, the Company announced that it had entered into a definitive agreement to acquire Wilcon Holdings, LLC ("Wilcon") from Pamlico Holdings and other unit holders of Wilcon for approximately $600 million in cash, subject to certain limited adjustments ("Proposed Wilcon Acquisition"). Wilcon is a fiber services provider that owns approximately 1,900 route miles of fiber, primarily in Los Angeles and San Diego. The Company expects to finance the Proposed Wilcon Acquisition using one or more liquidity sources, which may include cash on hand, undrawn availability from the 2016 Revolver, debt financings and issuances of equity or equity related securities. The Company expects the Proposed Wilcon Acquisition to close in the third quarter of 2017.

May 2017 Equity Financing

On May 1, 2017, the Company completed an offering of 4.75 million shares of its common stock, which generated net proceeds of approximately $440 million ("May 2017 Equity Financing"). The Company intends to use the net proceeds of the May 2017 Equity Financing for general corporate purposes, which may include the funding of acquisitions, including the Proposed Wilcon Acquisition, discretionary investments and the repayment or repurchase of outstanding indebtedness.

4.75% Senior Notes

On May 1, 2017, the Company issued $350 million aggregate principal amount of 4.750% senior unsecured notes due May 2047 ("4.75% Senior Notes"). The Company intends to use the net proceeds of the 4.75% Senior Notes offering for general corporate purposes, which may include the funding of acquisitions, including the Proposed Wilcon Acquisition, discretionary investments and the repayment or repurchase of outstanding indebtedness.