Cequel Communications, LLC (d/b/a Suddenlink Communications) (“Cequel”) announced today that it has received the requisite consents from the lenders under its existing first lien credit facility to amend the first lien credit facility (the “Amendment”) to, among other things:
- Facilitate Cequel's bandwidth investment plan, which is designed to improve the capacity and efficiency of Cequel's network.
- Permit the incurrence of new senior unsecured debt, provided the proceeds are used to reduce loans outstanding under Cequel's existing credit facilities.
The effectiveness of the Amendment is conditioned upon Cequel’s repayment of loans under the first lien credit facilty from a portion of the proceeds of a concurrent notes offering by Cequel ’s parent, Cequel Communications Holdings I, LLC.
Contacts:
Cequel Communications, LLC
Pete Abel, 314-315-9346