Cincinnati Bell Announces Intention to Obtain a $400 Million Term Loan B Facility
CINCINNATI--(BUSINESS WIRE)-- Cincinnati Bell Inc. (NYS: CBB) today announced that it will seek to amend its existing bank credit agreement to incorporate a new $400 million Term Loan B Facility due 2020 ("the Facility") and effect other modifications, subject to the receipt of lender commitments and consents, as well as market and other conditions. Indebtedness under the credit agreement, including the Facility if successfully implemented, is guaranteed by certain subsidiaries of Cincinnati Bell Inc. and includes customary terms and covenants. The net proceeds from the Facility, anticipated to be approximately $390 million, are intended to be used to repay a portion of the company's 8 ¼% Senior Notes due 2017, and for other general corporate purposes.
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About Cincinnati Bell Inc.
With headquarters in Cincinnati, Ohio, Cincinnati Bell (NYS: CBB) provides integrated communications solutions - including local and long distance voice, data, high-speed internet, entertainment and wireless services - that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world. In addition, enterprise customers across the United States rely on Cincinnati Bell for efficient, scalable office communications systems and end-to-end IT solutions. Cincinnati Bell also is the majority owner of CyrusOne (NAS: CONE) , which provides best-in-class data center colocation services to enterprise customers through its facilities with fully redundant power and cooling solutions that are currently located in the Midwest, Texas, Arizona, London and Singapore. For more information, please visit www.cincinnatibell.com.
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