WideOpenWest, Inc. (NASDAQ:KNOL) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive
Agreement.
On May 31, 2017, WideOpenWest Finance, LLC (WOW!), a subsidiary
of WideOpenWest, Inc. (the Company), entered into a seventh
amendment to its credit agreement with Credit Suisse AG, as
administrative agent, JPMorgan Chase Bank, N.A., as the revolver
agent, and the other parties thereto (the Seventh Amendment). The
Seventh Amendment (i) refinances the existing $200 million of
borrowings available to WOW! under the revolving credit facility,
with an additional $100 million of revolving credit facility
borrowings to become available upon compliance by WOW! with
certain conditions and (ii) extends the maturity date of the
revolving credit facility to May 31, 2022, unless an earlier date
is triggered under certain circumstances. Loans under the
revolving credit facility will bear interest, at the option of
WOW!, at a rate equal to ABR plus 2.00% or LIBOR plus 3.00%. The
guarantees, collateral and covenants in the Seventh Amendment
remain unchanged from those contained in the credit agreement
prior to the Seventh Amendment.
The foregoing summary of the Seventh Amendment is qualified in
its entirety by reference to the actual agreement, a copy of
which is filed herewith as Exhibit 10.1 and incorporated by
reference herein.
Item 8.01 Other
Events
On May 31, 2017, the Company issued a press release announcing
the foregoing. A copy of the press release is attached as Exhibit
99.1 to this report.
Item 9.01. Financial Statements and
Exhibits.
(d) Exhibits
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Exhibit No. |
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DescriptionofExhibit |
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10.1 |
Seventh Amendment to Credit Agreement, dated May 31, 2017, |
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99.1 |
Press release dated May 31, 2017. |
About WideOpenWest, Inc. (NASDAQ:KNOL)
Knology, Inc. (Knology) is an integrated provider of video, voice, data and advanced communications services to residential and business customers in 10 markets in the south-eastern United States and three markets in the Midwestern United States. As of December 31, 2011, Knology had 795,349 total connections. The Company provides its services over its wholly owned, fully upgraded minimum 750-megahertz interactive broadband network. As of December 31, 2011, its network passed 1,087,341 marketable homes, which are residential and business units. During the year ended December 31, 2011, video, voice, data and other revenues accounted for approximately 45%, 26%, 25% and 4% of its consolidated revenue. On June 15, 2011, the Company completed its acquisition from CoBridge Broadband, LLC. On July 22, 2011, the Company sold its acquired assets in Troy, Alabama. On January 9, 2012, the Company acquired E Solutions Corporation.