Mediacom Finishes Financing Flurry6/27/2001 8:31 AM Eastern
Mediacom Communications Corp. said it has completed a debt and equity
offering for a total of $627.6 million, the latest stage in a flurry of debt and
equity deals the company completed in the past few days to help fund its $2.2
billion purchase of systems from AT&T Corp.
Since June 22, Mediacom has raised over $1 billion in debt and equity. The
latest round was completed June 27 in two separate offerings - an equity
issuance of 29.9 million shares, priced at $15.22 each which raised $455.1
million, and a $175 million convertible senior note offering.
Last Friday, Mediacom raised about $400 million through the sale of 12-year
In February, Mediacom agreed to buy systems in Georgia, Illinois, Iowa and
with about 840,000 subscribers from AT&T Broadband for $2.2 billion in
cash. Mediacom said it expects to close the transaction in September.