UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): September 3, 2004
Moscow CableCom Corp.
(Exact Name of Registrant as
Specified in Charter)
|
Delaware |
0-1460 |
06-0659863 |
|
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
|
|
|
|
405 Park Avenue, Suite 1203 |
|
|
|
(Address of Principal Executive Offices) |
|
(Zip Code) |
|
|
|
|
|
|
(212) 826-8942 |
|
|
|
(Registrant's telephone number, |
|
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
As reported on Form 8-K filed by Moscow CableCom Corp. (the "Company") on August 31, 2004 (the "Form 8-K"), the Company as guarantor, and its wholly-owned subsidiary, ComCor-TV ("CCTV"), as borrower, entered a $4 million Working Capital Bridge Loan Facility (the "Bridge Facility") with Amatola Enterprises Limited, an affiliate of Columbus Nova Capital, on August 26, 2004. The Form 8-K is incorporated herein by reference.
On September 3, 2004, the Company received $2 million of loan proceeds pursuant to the Bridge Facility. The loan initially bears interest at the rate of 13.25%, which includes a factor for a commitment fee of 1.25% for the $2 million unused portion of the Bridge Facility. As further drawdowns occur, the interest rate will be reduced to reflect a blended interest rate of 12% for outstanding borrowings and 1.25% for any remaining unused portion of the $4 million facility. The loan is due and payable at the earlier of (i) the closing of the equity and debt transactions with Columbus Nova reported on the Form 8-K, (ii) June 30, 2005 (provided that certain termination events under such equity and debt transactions with Columbus Nova have not occurred) or one year after the occurrence of such termination events and (iii) the occurrence of certain change of control events with respect to the Company. Loans extended pursuant to the Bridge Facility are guaranteed by the Company and certain of its subsidiaries.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
The exhibits listed below are being furnished with this Form 8-K.
|
Exhibit Number |
Description |
|
99.1 |
Working Capital Bridge Facility Agreement dated August 26, 2004 by and between Moscow CableCom Corp. and ZAO ComCor-TV and Amatola Enterprises Limited. (Incorporated herein by reference to Exhibit 99.2 to Current Report on Form 8-K filed August 31, 2004 (File No. 0-1460).) |
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
MOSCOW CABLECOM CORP.
(Registrant)
/s/ Andrew M. O'Shea
Name: Andrew M. O'Shea
Title: Chief Financial Officer
Date: September 7, 2004