US cableco WOW has completed a private placement of 10.250% senior notes due 2019 raising US$100m.
The new issue is an add-on to the US$725m it raised in mid-2012, to fund its US$1.5bn acquisition of Knology and the refinancing of the target’s debt,…
US cableco WOW has completed a private placement of 10.250% senior notes due 2019 raising US$100m.
The new issue is an add-on to the US$725m it raised in mid-2012, to fund its US$1.5bn acquisition of Knology and the refinancing of the target’s debt, and will be treated as part of the existing series.
WOW said it will use the proceeds from its latest offering to repay outstanding amounts under its revolving credit facility.
WOW is the US’ tenth-largest pure play cableco according to trade body NCTA, and offers high-speed internet, cable TV, and telephony services.
It operates in Illinois, Michigan, Indiana, Ohio, Kansas, South Dakota, Tennessee, Alabama, Georgia, Florida and South Carolina.
In February it appointed a new CEO and COO, and they moved into their latest roles yesterday. WOW’s president Stephen Cochran became CEO, taking over from Colleen Abdoulah who will remain as chair of the board.
The company’s chief marketing officer, Cathy Kuo, took over Cochran’s operational responsibilities and was given the newly-created position of COO.
