WideOpenWest $520 million facility to be March/April business

By Sara Rosenberg

New York, Jan. 27 - WideOpenWest Holdings LLC anticipates holding a bank meeting sometime in the March/April timeframe to launch its proposed $520 million credit facility, according to a market source.

Credit Suisse is the lead bank on the deal.

The facility consists of a $60 million revolver and a $460 million term loan B, a syndicate document said.

Previously it was known that the deal was expected as end of first quarter business, but details on size and structure were unavailable until now.

Proceeds from the credit facility will be used to help fund the leveraged buyout of WideOpenWest by Avista Capital Partners.

Avista Capital is purchasing WideOpenWest from Oak Hill Capital Partners and ABRY Partners. The transaction is expected to close in the first half of 2006.

WideOpenWest is an Englewood, Colo., provider of cable television, high-speed internet and telephone services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.