Cable One gets $250 million term loan due 2026 at Libor plus 200 bps

By Angela McDaniels

Tacoma, Wash., Jan. 8 – Cable One, Inc. amended its credit agreement on Monday to provide for a $250 million incremental term loan B due Jan. 7, 2026, according to a Tuesday 8-K filing with the Securities and Exchange Commission.

The interest rate is Libor plus 200 basis points.

Proceeds were used to help finance the acquisition of Clearwave Communications.

The incremental term loan B will amortize in equal quarterly installments at a rate of 1% per year, and it may be prepaid at any time without penalty or premium.

The incremental term loan B is guaranteed by the company’s wholly owned subsidiaries that guarantee its other obligations under the credit agreement. Subject to some exceptions, it is secured by substantially all of the assets of the company and the guarantors.

CoBank, ACB is the lender. JPMorgan Chase Bank, NA is the administrative agent.

Cable One is a Phoenix-based cable company. Clearwave is a Harrisburg, Ill., facilities-based service provider that owns and operates a high-capacity fiber network.

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