Cincinnati Bell’s $800 Million Senior Secured Credit Facilities


Cravath represented the borrower, Cincinnati Bell Inc., a leading provider of integrated communications and IT solutions, in connection with the arrangement of its $200 million revolving credit facility and its $600 million term loan facility, provided by Morgan Stanley Senior Funding, Inc.

The facilities will be used to refinance existing indebtedness, finance the acquisition of OnX Holdings LLC, fund the merger with Hawaiian Telcom Holdco, Inc., and for working capital and other general corporate purposes. The transaction closed on October 2, 2017.

The Cravath team included partner Stephen M. Kessing (Picture), senior attorney Kimberly A. Grousset and associates David J. Kohtz, Stephanie L. Rowan and Stephanie M. Park on banking matters; partner Andrew W. Needham and associate Damien J. Rose on tax matters; and associates Aaron J. Feuer and Jana I. Hymowitz on executive compensation and benefits matters.

Involved fees earner: Stephen Kessing – Cravath Swaine & Moore; Kimberly A. Grousset – Cravath Swaine & Moore; David J. Kohtz – Cravath Swaine & Moore; Stephanie Rowan – Cravath Swaine & Moore; Stephanie Park – Cravath Swaine & Moore; Andrew Needham – Cravath Swaine & Moore; Damien Rose – Cravath Swaine & Moore; Aaron Feuer – Cravath Swaine & Moore; Jana Hymowitz – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Cincinnati Bell Inc.;

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Author: Ambrogio Visconti