Cable One, Inc. announced that it has launched the syndication of a new $350 million senior secured revolving credit facility, a new $250 million senior secured term loan A facility (the “Term Loan A”) and a new $450 million senior secured delayed draw term loan A facility. The New Credit Facilities are expected to mature five years after the closing date of the financing, and the Delayed Draw Term Loan A is expected to be available to be drawn at any time during the first nine months following the closing date of the financing.

The Company intends to apply the proceeds of the New Credit Facilities, together with cash on hand and borrowings under its previously established $325 million senior secured delayed draw term loan “B-3” facility, to refinance its existing senior secured revolving credit facility and senior secured term loan A facility, redeem its outstanding 5.75% senior unsecured notes due 2022 (the “Notes”) on or after June 15, 2019 when the call premium steps down, finance the Company’s pending acquisition of Fidelity Communications Co.’s data, video and voice business and certain related assets (collectively, “Fidelity”) and for other general corporate purposes. This press release is not, and shall not be deemed to be, a notice of optional redemption of the Notes.

The effectiveness of the New Credit Facilities and the terms thereof, including principal amounts and interest rates, are subject to market conditions and other factors outside of the Company’s control.

J.P. Morgan is acting as lead arranger on the transaction.