Cable One provides update on pending purchase of Mega Broadband
CABO•A U.S. court issued a temporary restraining order on Oct. 9 barring Cable One from acquiring 55% of Mega Broadband. Cable One said it is not obligated to close while the restraint remains in effect and that refinancing transactions are expected to address $2.45 billion of current obligations and debt maturities.
1. Acquisition restrained
A U.S. court issued a temporary restraining order on Oct. 9 prohibiting Cable One from acquiring 55% of Mega Broadband. Cable One said it is not obligated to close the acquisition while the legal restraint is in effect.
2. Refinancing progress
Cable One said it has made substantial progress toward financing transactions with GTCR and lenders. The transactions are expected to extend and reduce its revolving credit facility, pay down its B-4 term loan and address $2.45 billion of current obligations and debt maturities.
