Mediacom seeks $900 million term loan N at Libor plus 175-200 bps

By Sara Rosenberg

New York, March 20 – Mediacom Communications Corp. is in market with a $900 million secured term loan N (BB+) due 2024 that is talked at Libor plus 175 basis points to 200 bps with a 0% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal that launched with a call on Monday.

Commitments are due on Thursday, the source added.

Proceeds will be used to refinance a term loan K and for general corporate purposes.

Mediacom is a Mediacom Park, N.Y.-based cable operator.

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