Exhibit 99.1
For Immediate Release
Mediacom Broadband LLC Announces
Proposed Private Offering of Senior Notes due 2023
Middletown, NY -August 14, 2012 - Mediacom Broadband LLC and Mediacom Broadband Corporation, wholly-owned subsidiaries of Mediacom Communications Corporation, announced today that they intend to offer $300 million in aggregate principal amount of new senior notes due 2023 (the “Senior Notes”) in a private offering to be conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).
Mediacom Broadband LLC and Mediacom Broadband Corporation will use the net proceeds of the offering to provide a portion of the consideration required to purchase up to $300 million principal amount of their outstanding 8 1/2% senior notes due 2015 (“8 1/2% Notes”) pursuant to a tender offer. There is currently $500 million principal amount outstanding of 8 1/2% Notes.
The Senior Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.
About Mediacom Communications
Mediacom Communications is the nation’s eighth largest cable television company and one of the leading cable operators focused on serving the smaller cities in the United States, with a significant concentration in the Midwestern and Southeastern regions. Mediacom Communications offers a wide array of broadband products and services, including digital television, video-on-demand, digital video recorders, high-definition television, as well as high-speed Internet access and phone service. Mediacom Communications also offers affordable broadband communications solutions that can be tailored to any size business through Mediacom Business. For more information about Mediacom Communications, please visit www.mediacomcc.com.
Forward Looking Statements
This press release contains forward looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward looking statements in this press release include: adverse conditions in the capital markets, our inability to secure financing on acceptable terms, failure of holders to participate in the tender offer and the other risks and uncertainties discussed in our Annual Report on Form 10-K for the year ended December 31, 2011.
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Calvin Craib | Thomas Larsen | |
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Corporate Finance | Legal and Public Affairs | |
(845) 695-2675 | (845) 695-2754 |
Mediacom Communications Corporation
100 Crystal Run Road— Middletown, NY 10941— 845-695-2600— Fax 845-695-2639