New Issue: Insight Midwest add-on upsized to $185 million, yields 10¾%

By Paul A. Harris

St. Louis, Dec. 12 - Insight Midwest, LP and Insight Capital, Inc. upsized to $185 million from $175 million the add-on to their 9¾% senior notes due Oct. 1, 2009 (B2/B+) and priced it at 95.236 on Thursday for a yield to worst of 10¾%, according to a syndicate source.

Price talk was for a yield of 10½%-10¾%.

Credit Suisse First Boston was the bookrunner. Co-managers included Banc of America Securities, BNY Capital Markets, Morgan Stanley, J.P. Morgan, TD Securities, Fleet Securities, SunTrust Robinson Humphrey, BNP Paribas and UBS Warburg.

Proceeds from the Rule 144A deal will be used to repay bank debt.

The issuer is a New York cable TV operator.

Issuer:	Insight Midwest, L.P./Insight Capital, Inc.
Amount:	$185 million (increased from $175 million)
Security description:	Add-on to 9¾% senior notes due Oct. 1, 2009
Manager:	Credit Suisse First Boston
Maturity:	Oct. 1, 2009
Coupon:	9¾%
Price:	95.236
Yield to worst:	10.750%
Price talk:	10½%-10¾%
Spread:	722 basis points over 6% Treasury due August 2009
Call features:	Callable on Oct. 1, 2004 at 104.875, then at 103.250, 101.625, declining to par on Oct. 1, 2007 and thereafter
Settlement date:	Dec. 17, 2002 (T+3) with accrued interest from Oct. 1, 2002
Ratings:	Moody's: B2
	Standard & Poor's: B+
Rule 144A Cusip:	45768YAG7

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