WideOpenWest sets April 5 launch for $520 million credit facility

By Sara Rosenberg

New York, March 22 - WideOpenWest Holdings LLC has firmed up timing on the launch of its proposed $520 million credit facility with the scheduling of a bank meeting for April 5, according to a market source.

Previously, it was expected that the deal would be March/April business, but no specific date had been available until now.

Credit Suisse is the lead bank on the deal.

The facility consists of a $60 million revolver and a $460 million term loan B.

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.

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