US cableco Mediacom Communications has priced US$300m in senior notes due 2023 through its wholly-owned subsidiaries Mediacom Broadband LLC and Mediacom Broadband Corporation, according to a Reuters report.
In an SEC filing the company said the proceeds…
US cableco Mediacom Communications has priced US$300m in senior notes due 2023 through its wholly-owned subsidiaries Mediacom Broadband LLC and Mediacom Broadband Corporation, according to a Reuters report.
In an SEC filing the company said the proceeds would be used to purchase a portion of up to US$300m of its 8.5% notes due 2015.
The company said it currently has US$500m outstanding on the 2015 notes.
The new offering carries a coupon of 6.375% and priced at par.
JP Morgan, Bank of America Merrill Lynch, Wells Fargo, Deutsche Bank, SunTrust, Credit Suisse, RBC Capital Markets, and Citigroup were the joint bookrunning managers for the sale.
Moody’s rated the bonds B3 while S&P assigned B-.
Mediacom offers a variety of services via cable including broadband, TV and fixed-line telephone services. It operates predominantly in the Midwest and Southeast of the US.
