Cincinnati Bell amends loan, adding capital expenditures basket

By Sara Rosenberg

New York, Nov. 4 - Cincinnati Bell Inc. amended its credit facility, replacing the fixed-charge coverage ratio with a basket for capital expenditures, according to an 8-K filed with the Securities and Exchange Commission late Thursday.

Under the new basket, during the period from Oct. 1 to June 11, 2014, capital expenditures can't exceed $1 billion.

Also, the amendment allows for dispositions for which less than 50% of the consideration paid is in the form of cash or cash equivalents as long as the cumulative aggregate consideration received for the dispositions is less than $25 million.

The amendment was completed on Oct. 31.

Bank of America is the administrative agent on the deal.

Cincinnati Bell is a Cincinnati-based provider of telecommunications and technology services.

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