Insight to Refinance Midwest Debt

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Insight Communications said it will refinance certain indebtedness of its Insight Midwest unit.

The MSO said the refinancing contemplates increased-term and revolving-credit facilities aggregating $2.575 billion and using proceeds to redeem all of Insight Midwest's 10 1/2% senior notes due Nov. 1, 2010, and a portion of its 9 3/4% senior notes due Oct. 1, 2009.

Closing of the contemplated credit facilities is expected to occur in early October, and Insight engaged Bank of America Securities and J.P. Morgan Securities to arrange and syndicate the refinancing.

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