UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 2006
MEDIACOM BROADBAND LLC
MEDIACOM BROADBAND CORPORATION
(Exact name of Registrants as specified in their charters)
Delaware 333-72440 06-1615412
Delaware 333-72440-01 06-1630167
(State of incorporation (Commission File Nos.) (IRS Employer
or organization) Identification Nos.)
100 Crystal Run Road
Middletown, New York 10941
(Address of principal executive offices)
Registrants' telephone number: (845) 695-2600
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the Registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant
On July 17, 2006, the operating subsidiaries of Mediacom Broadband LLC, a
wholly-owned subsidiary of Mediacom Communications Corporation ("MCC"), borrowed
$335.0 million (the "Revolver Draw") under the revolving credit portion of their
credit facility (the "Credit Facility"). The proceeds of the Revolver Draw were
used on July 17, 2006 to pay a portion of the redemption price of the Notes (as
defined in Item 8.01 below).
Borrowings under the revolving credit portion of the Credit Facility bear
interest at a floating rate or rates equal to, at the option of the operating
subsidiaries, the LIBOR rate or the prime rate, plus a margin specified in the
Credit Facility. The revolving credit portion of the Credit Facility matures in
December 31, 2012.
Item 8.01 Other Events
On July 17, 2006, Mediacom Broadband LLC and Mediacom Broadband
Corporation, a wholly-owned subsidiary of Mediacom Broadband LLC, redeemed all
of their outstanding 11% Senior Notes due 2013 (the "Notes"). The redemption
price for the Notes was $422.0 million, consisting of $400.0 million of
principal and $22.0 million of redemption premium. The accrued interest paid on
the Notes was $22.2 million.
The source of funds for the $444.2 million paid in respect of the
redemption price and accrued interest was $335.0 million from the revolving
credit portion of the Credit Facility as disclosed in Item 2.03 above, $100.0
million from an equity contribution by MCC and $9.2 million from Mediacom
Broadband LLC's available cash.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants have duly caused this report to be signed on their behalf by the
undersigned hereunto duly authorized.
Dated: July 18, 2006
Mediacom Broadband LLC
By: /s/ Mark E. Stephan
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Mark E. Stephan
Executive Vice President and
Chief Financial Officer
Mediacom Broadband Corporation
By: /s/ Mark E. Stephan
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Mark E. Stephan
Executive Vice President and
Chief Financial Officer