Atlantic Broadband, the 15th largest U.S. cable company with headquarters in Quincy, Mass., recently restructured most of its heavy debt load as it faced paying nearly $500 million in cash obligations through the end of 2011.

The privately-held company said a group of lenders agreed to extend the maturity date on $325 million worth of debt from September 2011 to June 2013, according to SEC filings. In addition, revolving credit lenders agreed to extend the maturity on $40.0 million due March 1, 2010 to March 1, 2012.

Atlantic Broadband has about 287,000 cable, 131,000 residential high-speed Internet and 55,000 residential telephone subscribers. In 2003, the company struck a deal to purchase cable systems in Pennsylvania, Florida, Maryland, West Virginia, Delaware and New York from St. Louis-based Charter Communications. The purchase price was about $738 million, and the deal closed the following year.


Atlantic Broadband restructures debt - Boston Business Journal: