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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 23, 1998
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Aliant Communications Inc.
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(Exact name of registrant as specified in its charter)
Nebraska 0-10516 47-0632436
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1440 M Street, Lincoln, Nebraska 68508
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (402) 436-5289
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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PRESS RELEASE: ALIANT COMMUNICATIONS ANNOUNCES PROPOSED DEBT OFFERING
Lincoln, NE - Aliant Communications Inc. (NASDAQ:ALNT) announced today that
it intends to offer $100,000,000 aggregate principal amount of debt
securities.
If completed, Aliant intends to use the net proceeds of the offering (i) to
repay $15 million of short-term debt incurred to fund the previously
announced acquisition of the remaining 50% ownership interest in the Omaha
Cellular General Partnership that Aliant did not already own, (ii) to
redeem approximately $48 million in principal amount of Series K 9.91%
First Mortgage Bonds of Aliant Communications Co., including a make-whole
premium of approximately $4 million, (iii) to redeem all of the outstanding
5% preferred stock of Aliant Communications Co., including a redemption
premium of approximately $225,000, and (iv) to repay approximately $31
million of the principal amount outstanding under one of the Company's bank
credit facilities.
The make-whole premium of approximately $4 million that would be incurred
in connection with the redemption of the Series K Bonds would require the
Company to record a charge to earnings of approximately $2.4 million after
income taxes in 1998, or an estimated $0.07 per share.
It is expected that Merrill Lynch and Morgan Stanley Dean Witter would
underwrite the offering.
Aliant Communications Inc., headquartered in Lincoln, Nebraska, is a
diversified communications company providing a comprehensive array of
services and retail products to consumers, businesses, educational
institutions, and government agencies, and wholesale network services to
other communications companies. Web site: http://www.aliant.com/
A written prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended, may be obtained from Merrill Lynch &
Co., 250 Vesey Street, New York, New York 10201, and Morgan Stanley Dean
Witter, 1585 Broadway, New York, New York 10036.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ALIANT COMMUNICATIONS INC.
Date March 23, 1998 /s/ Michael J. Tavlin
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Michael J. Tavlin, Vice President
Treasurer
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