Mediacom seeks $1.4 billion in term loan debt

By Sara Rosenberg

New York, April 6 - Mediacom Communications Corp.'s operating subsidiaries are in-market with a total of $1.4 billion in new senior secured term loan debt (Ba3/BB-), according to a market source.

Mediacom LLC is working on a new $650 million term loan B due 2015 that is talked at Libor plus 175 basis points, the source said. JPMorgan and Wachovia are the lead banks on this deal, with JPMorgan the left lead.

And, Mediacom Broadband LLC is working on a new $750 million term loan C due 2015 - split into $250 million of delayed-draw and $500 million of funded - that is talked at Libor plus 175 bps, the source added. JPMorgan and Citigroup are the lead banks on this deal, with JPMorgan the left lead.

Proceeds from the new debt, which launched on April 4, will be used to refinance existing debt.

Mediacom is a Middletown, N.Y., acquirer and developer of cable systems.

© 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.