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Short Take: Covad plans $175 million debt offering

Covad Communications plans to issue $175 million in senior notes in a private offering. Covad, a packet-based competitive local exchange carrier, said it will use the proceeds from the debt offering to fund network buildouts and marketing activities, and to provide working capital. Covad went public Jan. 22.

Covad Communications plans to issue $175 million in senior notes in a private offering. Covad, a packet-based competitive local exchange carrier, said it will use the proceeds from the debt offering to fund network buildouts and marketing activities, and to provide working capital. Covad went public Jan. 22.