Mediacom Communications Corp.(MCCC) said it closed $650 million financing for Mediacom LLC, one of its two principal operating subsidiaries.
The financing consisted of $350 million of 9?% Senior Notes due 2019 and an incremental senior secured term loan facility of $300 million maturing in 2017.
The net proceeds of the 9?% Senior Notes will be utilized for the purchase by Mediacom LLC of both its 91/2% Senior Notes due 2013 and 7?% Senior Notes due 2011, which are subject to ongoing tender offers.
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