Mediacom launches $200 million term loan G at discount of 971/2-98

By Sara Rosenberg

New York, Aug. 8 - Mediacom Broadband Group launched on Wednesday morning its $200 million term loan G due January 2020 with an original issue discount of 97½ to 98, according to a market source.

As previously reported, price talk on the loan is Libor plus 300 basis points with a 1% Libor floor.

There is 101 soft call protection for one year, the source said.

J.P. Morgan Securities LLC and Bank of America Merrill Lynch are the joint lead arrangers and bookrunners on the deal. Other bookrunners include Wells Fargo Securities LLC, Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, SunTrust Robinson Humphrey Inc. and RBC Capital Markets LLC.

Proceeds will be used to repay revolver borrowings and for general corporate purposes.

Current and expected ratings are B1/B+.

Mediacom is a Middletown, N.Y.-based cable operator.

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