Knology $305 million credit facility to launch Thursday

By Sara Rosenberg

New York, May 10 - Knology Inc. is expected to hold a bank meeting on Thursday to launch its proposed $305 million senior secured credit facility, according to a market source.

Credit Suisse First Boston is the sole lead bank on the deal.

The facility consists of a $165 million first-lien term loan B, a $115 million second-lien term loan and a $25 million revolving credit facility, with price talk on all tranches unavailable as of yet, the source said.

Proceeds will be used to refinance the company's existing credit facility, to repay existing senior notes and for general corporate purposes.

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

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