UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 17, 2004
GENERAL COMMUNICATION, INC.
(Exact Name of Registrant as Specified in its Charter)
Alaska 0-15279 92-0072737
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification
Incorporation) Number)
2550 Denali Street Suite 1000 Anchorage, Alaska 99503
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (907) 868-5600
NONE
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events and Regulation FD Disclosure.
General Communication, Inc. announced the following:
Closing of the private offering of $250 million principal
amount of 7.25% Senior Notes due February 15, 2014 by GCI, Inc., its
wholly owned subsidiary. The net proceeds of the offering will be
used to repay GCI, Inc.'s existing $180 million 9.75% Senior Notes
due August 1, 2007 and to repay senior bank debt. The private
offering increased to $250 million in principal amount from the
previously announced $230 million.
In connection with the previously announced cash tender offer
and consent solicitation by GCI, Inc. for any and all of its $180
million outstanding principal amount of 9.75% Senior Notes due 2007,
GCI, Inc. has accepted for payment $114,591,500 principal amount of
notes validly tendered. Such notes accepted for payment will receive
total consideration of $1,035.00 per $1,000 principal amount, plus
accrued and on unpaid interest up to, but not including, February
17, 2004. The offer remains open until March 2, 2004; however, a
consent payment of $10.00 per $1,000 principal amount has expired.
GCI, Inc. issued a notice of redemption to all the holders of
its 9.75% Senior Notes due 2007. The notice calls for redemption of
the remaining $65,408,500 principal amount of such notes on March
18, 2004 at a redemption price of $1,032.50 per $1,000 principal
amount, plus accrued and unpaid interest up to, but not including,
March 18, 2004.
Certain proposed amendments to the indenture governing the
9.75% Senior Notes due 2007 became operative.
A copy of the press release is attached as Exhibit 99.1. The
information contained in Exhibit 99.1 is incorporated by reference
herein.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired: None
(b) Pro forma financial information: None
(c) Exhibit:
99.1 Press release dated February 17, 2004
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL COMMUNICATION, INC.
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(Registrant)
Date: February 17, 2004
By /s/ John M. Lowber
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Name: John M. Lowber
Title: Senior Vice President,
Chief Financial Officer,
Secretary and Treasurer
(Principal Financial Officer)
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release of General Communication, Inc., dated
February 17, 2004.