Cable One amends credit agreement: revolver upsized to $1B, maturities extended, $150M term loan added

Cable One, Inc.

Revolving credit facility increased by $500M to $1.0B; maturity extended to February 2028.
Term loan B-3 upsized by $150M (total now $150M additional); maturity extended to October 2029.
Benchmark rate switched from LIBOR to SOFR plus 10 basis points credit spread adjustment.
Company drew $488M under revolver to repay all outstanding term A-2 loan.
Term loan B-2 maturity also extended to October 2029; interest margins set at SOFR+2.25% or base+1.25%.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cable One, Inc. amended Fourth Restatement Agreement with JPMorgan Chase Bank, N.A. ("JPMorgan"), as administrative agent, and the lenders party thereto valued at $500.0 million (effective 2023-02-22).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A. ("JPMorgan"), as administrative agent, and the lenders party thereto
Value: $500.0 million
Effective: 2023-02-22

Exact text from the filing

On February 22, 2023 (the “Closing Date”), Cable One, Inc. (the “Company”) and certain of its wholly owned subsidiaries entered into a Fourth Restatement Agreement (the “Fourth Restatement Agreement”) with JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent, and the lenders party thereto, to amend and restate its existing Third Amended and Restated Credit Agreement, dated as of October 30, 2020

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Cable One, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-004553

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