Mediacom Broadband enters $216 million revolver with five-year term

By Jennifer Chiou

New York, Nov. 10 - Mediacom Communications Corp. subsidiary Mediacom Broadband LLC said it entered into a $216 million revolving credit agreement that will come due on Dec. 30, 2016.

J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner and Smith Inc. were the joint lead arrangers, with J.P. Morgan, Merrill and Wells Fargo Securities, LLC as joint bookrunners and Bank of America, NA and Wells Fargo Bank, NA as co-syndication agents.

Deutsche Bank Securities Inc. and SunTrust Bank were co-documentation agents.

The agreement is subject to early termination on July 31, 2014 or April 15, 2015 if certain other indebtedness of Mediacom Broadband remains outstanding on these dates, according to a news release.

The new revolver replaces a $430.3 million revolving credit facility that would have matured on Dec. 31, 2012, the release stated.

Mediacom Communications said that it has significantly reduced its total debt maturing over the next three years to less than $80 million.

Mediacom is a Middletown. N.Y.-based cable television company.

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