Renaissance Media Group LLC, Renaissance
Media (Louisiana) LLC, Renaissance Media
(Tennessee) LLC, Renaissance Media Capital
Announce Consummation of Exchange Offer
FERNDALE, N.Y., Oct. 7 /PRNewswire/ -- Renaissance Media (Louisiana) LLC,
("Renaissance Louisiana''), Renaissance Media (Tennessee) LLC, ("Renaissance
Tennessee'') and Renaissance Media Capital Corporation, ("Renaissance Capital''
and together with Renaissance Louisiana and Renaissance Tennessee the
"Issuers''), and Renaissance Media Group, LLC, announce the consummation of the
Issuers' exchange offer for the Issuers' outstanding 10% Senior Discount Notes
Pursuant to the exchange offer, $163,150,000 aggregate principal amount at
maturity of the Issuers' 10% Senior Discount Notes due 2008 (the "Old Notes'')
were tendered prior to the expiration of the exchange offer and exchanged for
the same aggregate principal amount at maturity of the Issuers' 10% Senior
Discount Notes due 2008, that have been registered under the Securities Act of
1933, as amended (the "Securities Act'') (the "Exchange Notes''). The Old Notes
were originally issued and sold on April 9, 1998 in a transaction exempt from
registration under the Securities Act.
Notes issued in the exchange offer have substantially the same
terms and conditions as the Old Notes, except that the Exchange Notes are not
subject to the restrictions on resale or transfer, which applied to the
unregistered Old Notes.
Renaissance Media Group, LLC and its subsidiaries, including the Issuers (the
"Company''), were formed in 1998 and own medium sized cable television systems
clustered in southern Louisiana, western Mississippi and western Tennessee and,
as of June 30, 1998, passed 180,561 homes and served 126,985 subscribers. Based
on these numbers of subscribers, and at June 30, 1998, the Company is the 4th
largest cable television system operator in Louisiana and the 5th largest cable
television system operator in Tennessee.
SOURCE: Renaissance Media Group LLC