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WOW! Announces Commitments for $2.28 Billion of New Term Loans

June 16, 2017

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- WideOpenWest, Inc. (“WOW!” or the “Company”) (NYSE: WOW) announced today that WideOpenWest Finance, LLC (“WOW! Finance”), a subsidiary of the Company, has received commitments of $2.28 billion for new term B loans. JPMorgan Chase Bank, N.A. and Morgan Stanley Senior Funding, Inc. are expected to act as lead arrangers and lead bookrunners. The Company expects the new term B loan transaction to close in mid-July 2017, subject to the satisfaction of customary conditions. The new term B loans are expected to mature in August 2023, subject to certain exceptions, and to bear interest, at the Company’s option, at a rate equal to LIBOR + 325bps.

The Company expects to use the proceeds of the new term B loans, along with borrowings under its revolving credit facility and cash on hand, to refinance the Company’s existing term B loans, to redeem all of WOW! Finance’s outstanding 10.250% Senior Notes due 2019 (the “Senior Notes”) and to pay certain fees and expenses (collectively, the “Debt Refinancing”). The Company has previously delivered a notice to holders of the Senior Notes to redeem, as of July 15, 2017, $323 million in aggregate principal amount of Senior Notes. The Company expects that its annual interest costs will be reduced by an amount in excess of $60 million as a result of the combined impact of (i) the deleveraging from the closing of its previously announced initial public offering and (ii) the Debt Refinancing.

About WOW!

WOW! is one of the nation’s leading providers of high-speed Internet, cable TV and phone serving communities in the U.S. WOW!’s operating philosophy is to deliver a customer and employee experience that lives up to its name. For more information, please visit

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Debt Refinancing, any use of proceeds and expected cost savings therefrom. These statements are not historical facts but rather are based on the Company’s current expectations regarding the proposed refinancing, which is subject to various closing conditions and agreeing to definitive documentation. Words such as “may,” “will,” “could,” “would,” “should,” “predict,” “potential,” “expects,” “intends,” “plans,” “believes,” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission.

Source: WideOpenWest Inc.

WideOpenWest, Inc.

Lucas Binder, 303-927-4951

VP Corporate Development & Investor Relations

Categories: Press Releases
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