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Mediacom repays $198.9 million term loan C prior to Jan. 31 maturity
By Toni Weeks
San Luis Obispo, Calif., Jan. 5 – Mediacom LLC repaid the entire $198.9 million balance of its existing term loan C, which was scheduled to mature on Jan. 31, 2015, according to an 8-K filing with the Securities and Exchange Commission.
The repayment was funded with $150 million of cash contributions received on Dec. 24 and Dec. 31 from parent company Mediacom Communications Corp., with the remainder funded by borrowings under Mediacom LLC’s existing revolving credit facility and cash on hand.
According to the filing, Mediacom Communications received the $150 million payment from wholly owned subsidiary Mediacom Broadband LLC on Dec. 24 and Dec. 31.
Mediacom is a Middletown. N.Y.-based cable operator.
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