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Mediacom ups term loan to $800 million, firms at Libor plus 200 bps
By Sara Rosenberg
New York, Oct. 27 – Mediacom Communications Corp. upsized its term loan M due 2025 to $800 million from $600 million and finalized pricing at Libor plus 200 basis points, the low end of the Libor plus 200 bps to 225 bps talk, according to an informed source.
Also, the original issue discount on the term loan was tightened to 99.875 from 99.75, the source said.
As before, the term loan includes a 0.75% Libor floor and 101 soft call protection for six months.
J.P. Morgan Securities LLC is the lead bank on the deal that allocated on Thursday afternoon.
Proceeds will be used to refinance existing debt, including a term loan H.
Mediacom is a Mediacom Park, N.Y.-based cable operator.
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