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Mediacom Communications gets $2.17 billion of credit facilities
By Sara Rosenberg
New York, March 23 – Mediacom Communications Corp. closed on March 17 on $2.17 billion of credit facilities, according to a news release.
The facilities consist of $745 million of revolving credit facilities and $1.425 billion of bank term loans for the company’s subsidiaries, Mediacom LLC and Mediacom Broadband LLC.
Through this transaction, the company extended nearly 80% of its debt maturities to March 2025, with the remainder due February 2024, and reduced the average interest rate on its total debt outstanding to below 2.5% from 4.2% in the first quarter of 2019.
Mediacom is a Mediacom Park, N.Y.-based cable operator.
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