Cequel to Make $440 Mln Payout to Investors including Quadrangle, GS Capital and Oaktree

The Quadrangle Group is getting some good news.

Today, Cequel Communications Holdings I said that it plans to refinance an existing $2.525 billion loan with a new $2.7 billion credit facility. The new loan will consist of a $500 million revolver and a $2.2 billion term loan B. Proceeds will be used to fund a $370 million distribution in March PLUS another payout of $70 million in May, according to the statement.

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