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Bondage for Adelphia, Comcast, Mediacom

The bond market for cable operators is beginning to heat up, with three MSOs
announcing plans to tap the debt markets for a combined $1.3 billion.

Adelphia Communications Corp., Comcast Corp. and Mediacom Communications
Corp. all announced bond deals Thursday, with proceeds going toward financing
acquisitions, repaying debt and for general corporate purposes.

Adelphia said it planned to issue about $400 million in senior notes due
2011. Salomon Smith Barney and Banc of America Securities LLC will serve as
joint book-running managers for the offering.

Comcast said it sold an additional $500 million in eight- and 12-year notes,
part of its previously announced $1 billion bond offering. Banc of America, J.P.
Morgan & Co. and Merrill Lynch & Co. acted as joint lead managers and
joint book runners for the offering. Comcast said in a statement that the
proceeds from the offering will be used to repay a portion of Comcast Cable
Communications Inc.'s commercial paper and notes payable to affiliates, as well
as for general corporate purposes.

Mediacom Broadband LLC and Mediacom Broadband Corp., both wholly owned
subsidiaries of Mediacom Communications, said they would offer about $400
million in senior notes due 2013. The company said in a statement that it
expects to use the proceeds from the bond offering to pay a portion of the
aggregate purchase price of its previously announced acquisition of certain
systems from AT&T Broadband. In February, Mediacom said it would purchase
cable systems in four states with 840,000 subscribers from AT&T Broadband
for $2.2 billion.