TMCnet News
Cable ONE Completes Term Loan B Repricing; Reduces Borrowing CostsCable One, Inc. (NYSE: CABO) today announced that its lenders have approved a reduction to the interest rate on the Company's $500 million Term Loan B Credit Facility. Under the transaction, the interest rate on the Company's Term Loan B Credit Facility was reduced by 0.50%, moving from a rate of LIBOR plus a margin of 2.25% to a rate of LIBOR plus a margin of 1.75%. Excluding the costs of the transaction, the lower interest rate will save the Company approximately $2.5 million annually in interest costs. All other material terms and provisions of the Term Loan B Credit Facility remain substantially the same. Additional details on the above described amendment are set forth in a Current Report on Form 8-K that was filed wit the Securities and Exchange Commission today. To automatically receive Cable ONE financial news by email, please visit our Investor Relations website and subscribe to Email Alerts. About Cable ONE Cable One, Inc. (NYSE: CABO) is among the 10 largest cable companies in the United States and a leading broadband communications provider. Serving nearly 800,000 residential and business customers in 21 states, Cable ONE provides consumers with a wide array of communications and entertainment services, including high-speed internet and advanced Wi-Fi solutions, cable television and phone service. Cable ONE Business provides scalable and cost-effective products for businesses ranging in size from small to mid-market, in addition to enterprise, wholesale and carrier customers. View source version on businesswire.com: https://www.businesswire.com/news/home/20180423006326/en/ |
