New Issue: WideOpenWest prices $100 million tap of 10¼% notes due 2019 at 113 to yield 5.489%

By Paul A. Harris

Portland, Ore., March 26 - WideOpenWest Finance, LLC priced a $100 million tack-on to its 10¼% senior notes due July 15, 2019 (Caa1/CCC+) at 113.00 to yield 5.489% on Wednesday, according to a syndicate source.

The reoffer price came at the rich end of the 112.5 to 113 price talk.

Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC were the joint bookrunners.

The Denver-based provider of residential and commercial high-speed internet, cable television and telephone services plans to use the proceeds to repay its revolver and for general corporate purposes.

Issuer:	WideOpenWest Finance, LLC and WideOpenWest Capital Corp.
Amount:	$100 million
Proceeds:	$113 million
Maturity:	July 15, 2019
Security description:	Tack-on to the 10¼% senior notes due July 15, 2019
Bookrunners:	Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
Coupon:	10¼%
Price:	113.00
Yield:	5.489%
Spread:	530 bps
First call:	July 15, 2015 at 107.688
Equity clawback:	40% at 110.25 until July 15, 2015
Trade date:	March 26
Settlement date:	April 1
Ratings:	Moody's: Caa1
	Standard & Poor's: CCC+
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	112.5 to 113
Marketing:	Quick to market
Original issue:	$725 million priced at par in July 2012
Fungibility:	Upon registration the add-on notes will be fungible with the original notes
Total issue size:	$825 million

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