Knology amends facility, extending some term loan debt to 2014

By Sara Rosenberg

New York, Oct. 5 - Knology Inc. amended its credit facility, extending the maturity on $397 million of term loans by two years to June 30, 2014, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Pricing on the extended loans is Libor plus 350 basis points.

In addition, the amendment increased the size of the revolver to $35 million from $25 million, and added a cumulative restricted payment allowance of $10 million for dividends and/or share repurchases using excess cash flow and subject to a maximum leverage test.

The amendment is dated as of Sept. 28.

Credit Suisse is the administrative agent on the deal.

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

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