Cincinnati Bell amends to modify leverage ratio, EBITDA definition

By Sara Rosenberg

New York, Feb. 19 - Cincinnati Bell Inc. amended its credit facility, revising the leverage requirement and the definition of consolidated EBITDA, according to an 8-K filed with the Securities and Exchange Commission on Friday.

As a result of the amendment, the leverage ratio will remain at its current requirement of 4.50:1.00 until maturity, rather than stepping down to 4.25:1.00 on June 30.

And, with the change to the definition of consolidated EBITDA, any call premium, tender premium or other similar expense and fees paid in connection with the refinancing, repayment, repurchase or extinguishment of any debt will not reduce the consolidated EBITDA calculation.

The amendment was completed on Feb. 17.

Bank of America is the administrative agent on the deal.

Cincinnati Bell is a Cincinnati-based communications company.

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