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GCI Liberty Announces $350 Million Offering of Proposed New Senior Notes Due 2028

ENGLEWOOD, Colo.--(BUSINESS WIRE)--GCI Liberty, Inc. (Nasdaq: GLIBA, GLIBP) announced today that its wholly-owned subsidiary, GCI, LLC (the “Issuer”), intends to issue $350 million of new senior notes due 2028 (the “2028 Notes”) in a private offering. The 2028 Notes will be unsecured obligations of the Issuer. The net proceeds of the offering, together with cash on hand and net proceeds from expected incremental borrowings under the Issuer’s senior credit facility, will be used to fund the redemption of all $450 million aggregate outstanding principal amount of the Issuer’s 6.875% Senior Notes due 2025 (the “2025 Notes”).