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S-4/A
RENAISSANCE MEDIA GROUP LLC filed this Form S-4/A on 09/04/1998
Entire Document
 
<PAGE>
 
                          RENAISSANCE MEDIA GROUP LLC
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED)
                                 JUNE 30, 1998
             (ALL DOLLAR AMOUNTS IN 000'S EXCEPT WHERE INDICATED)
                                  (UNAUDITED)
 

<TABLE>
<CAPTION>
                                                             SIX MONTHS ENDED
                                                                 JUNE 30,
                                                             -----------------
                                                               1997     1998
                                                             --------  -------
     <S>                                                     <C>       <C>
      Revenues.............................................. $ 25,176  $28,142
      Expenses..............................................   26,727   28,007
                                                             --------  -------
      Operating Income (Loss)...............................   (1,551)     135
      Interest Expense and Other Expenses...................    9,621    9,621
                                                             --------  -------
      Net (Loss)............................................ $(11,172) $(9,486)
                                                             ========  =======
</TABLE>

 
5. DEBT
 
  As of June 30, 1998, debt consisted of:
 

<TABLE>
      <S>                                                             <C>    
       10.00% Senior Discount Notes at Accreted Value (a)............ $102.3
       Bank Credit Facilities (b).................................... $102.5
                                                                      ------
                                                                      $204.8
</TABLE>

 
  (a) On April 9, 1998, in connection with the Acquisition described in Note
      4, Louisiana, Tennessee and Capital issued $163.2 million face amount,
      $100 million (initial accreted value) of 10.00% senior discount notes due
      2008 ("Notes"). The notes pay no interest until April 15, 2003. From and
      after April 15, 2003 the notes will bear interest, payable semi-annually
      in cash, at a rate of 10% per annum on April 15 and October 15 of each
      year, commencing October 15, 2003. The notes are due on April 15, 2008.
 
  (b) On April 9, 1998, Renaissance Media entered into a credit agreement
      (The "Credit Agreement"). The aggregate commitments under the Credit
      Agreement total $150 million, consisting of a $40 million revolver, $60
      million Tranche A Term Loans and $50 million Tranche B Term Loans. The
      revolving credit and term loans are collateralized by a first lien
      position on all present and future assets and stock of the Company. The
      Credit Agreement provides for interest at varying rates based upon various
      borrowing options and the attainment of certain financial rates and for
      commitment fees of 1/2% on the unused portion of the revolver. The
      effective interest rate for the period ended June 30, 1998 was 8.11%.
 
           On April 9, 1998, $110 million was borrowed under the Credit
     Agreement's A and B Term Loans. On June 22, 1998, $7.5 million was repaid
     resulting in $102.5 million of outstanding A and B Term Loans as of June
     30, 1998.
 
           At June 30, 1998, the Company had unrestricted use of the $40 million
     revolver, although no borrowings had been made by the Company through
     that date.
 
                                     F-15