KBRA Assigns Preliminary Rating to Cogent IPv4 LLC, Series 2024-1
18 Apr 2024 | New York
KBRA assigns a preliminary rating to one class of notes from Cogent IPv4 LLC, Series 2024-1 (Cogent 2024-1). Transaction collateral primarily includes Internet Protocol Version 4 (IPv4) addresses and related contracts and receivables. The Series 2024-1 Notes are anticipated to be issued by Cogent IPv4 LLC (the Issuer) and represent the first securitization from Cogent Communications, Inc. (Cogent, the Manager, the Company), a wholly-owned subsidiary of Cogent Communications Holdings, Inc. (the Parent). The transaction structure is a master trust, and as such, the indenture permits the issuance of additional classes and series of notes, subject to rating agency confirmation and other considerations. The proceeds from the sale of the Notes will primarily be used to pay certain issuance expenses, to fund certain reserve accounts and to be used for general corporate purposes.
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