Knology plans $59 million first-lien term loan add-on for Graceba purchase

By Sara Rosenberg

New York, Nov. 7 - Knology Inc. has received a commitment for a $59 million first-lien term loan add-on to help fund the acquisition of Graceba Total Communications, Inc., according to a news release.

Knology will pay cash consideration of $75 million for Graceba, a provider of digital cable television, local and long distance telephone service and high-speed internet services to residential and business customers in Dothan, Ala.

Other acquisition financing will come from $16 million of cash on hand.

The transaction is expected to close in the first quarter of 2008, subject to the satisfaction of closing conditions, including the receipt of regulatory approvals with respect to the municipal franchises.

Knology is a West Point, Ga.-based provider of interactive communications and entertainment services.

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