Cincinnati Bell amends credit agreement to reduce revolver interest

By Sarah Lizee

Olympia, Wash., April 6 – Cincinnati Bell Inc. amended its credit agreement on Thursday to reduce the applicable margin for revolving loans and reduce the letter of credit fees, according to an 8-K filing with the Securities and Exchange Commission.

Interest was reduced to Libor plus 325 basis points from Libor plus 375 bps previously.

The letter of credit fees were reduced to 325 bps from 375 bps.

As previously reported, the company used proceeds from a new $600 million term loan B to refinance its existing term loan B down to Libor plus 325 bps from Libor plus 375 bps.

Cincinnati Bell is a Cincinnati-based provider of integrated communications solutions.

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