Mediacom gets new term loan C to essentially reprice, extend its term B

By Sara Rosenberg

New York, May 5 - Mediacom Communications Corp. subsidiary Mediacom Broadband LLC closed on a new $500 million term loan C that was used to replace the existing $496.5 million term loan B at a lower rate, according to an 8-K filed with the Securities and Exchange Commission Thursday.

JPMorgan is the administrative agent on the deal.

The new term loan C, which closed on Tuesday, carries an interest rate of Libor plus 200 basis points, 50 basis points less than the interest rate on the term loan B.

Furthermore, the term loan C matures in February 2014 compared to the term loan B that was set to mature in September 2010.

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

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