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SEC Filings

S-4/A
RENAISSANCE MEDIA GROUP LLC filed this Form S-4/A on 09/04/1998
Entire Document
 
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                    [ALTERNATE PAGE 12 (REPLACES PAGE 27)]
 
                                USE OF PROCEEDS
   
  The Obligors will not receive any cash proceeds from the issuance of the New
Notes in connection with the exchange of the New Notes, which have been
registered under the Securities Act of 1933, as amended, for the Old Notes
(the "Exchange Offer"). In consideration for issuing the New Notes in the
Exchange Offer, the Obligors will receive Old Notes in like original principal
amount at maturity, the form and terms of which are the same as the form and
terms of the New Notes (which replace the Old Notes), except as otherwise
described herein.     
 
  The net proceeds to the Obligors from the Offering of the Old Notes were
approximately $95.3 million, after deducting the estimated underwriting
discounts and commissions and other Offering expenses payable by the Obligors.
The Obligors used the net proceeds from the Offering of the Old Notes,
together with the Equity Contributions and borrowings under the Term Loans, to
consummate the Acquisition and to pay certain fees and expenses in connection
with the Transactions. The cash purchase price for the Systems was
approximately $300.0 million. Time Warner received a $9.5 million equity
ownership interest in Holdings in connection with the consummation of the
Transactions. See "The Company."
 
  The sources and uses of funds for the Transactions were as follows:
 

                      SOURCES OF FUNDS                          AMOUNT
                      ----------------                       -------------
                                                             (IN MILLIONS)
Old Notes...................................................    $100.0
Equity Contributions(1).....................................      99.0
Borrowings under the Term Loans.............................     110.0
Working Capital Adjustments(2)..............................       1.0
                                                                ------
Total Sources of Funds......................................    $310.0
                                                                ======


                        USES OF FUNDS                            AMOUNT
                        -------------                         -------------
                                                              (IN MILLIONS)
Cash purchase price for the Systems(1).......................    $300.0
Estimated transaction fees and expenses......................      10.0
                                                                 ------
Total Uses of Funds..........................................    $310.0
                                                                 ======
 
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(1) Does not include the portion of the purchase price that was paid to Time
    Warner as a $9.5 million equity ownership interest in Holdings.
(2) Working Capital Adjustments consists of certain net liabilities of the
    Systems assumed by the Company at the time the Acquisition was
    consummated.