NASSAU, THE BAHAMAS, 20th September, 2013 - Cable Bahamas Ltd. announced today that it has successfully completed a USD $135 Million refinancing of its Senior Credit Facility. This announcement comes o n the heels of the Company's successful 100% acquisition of US Metropolitan LLC, a Florida telecommunications provider, for $24.9M in cash.

"The closing of this financing completes the next milestone in the long-term strategic plan that was adopted nineteen months ago," said Anthony Butler, Chief Executive Officer of Cable Bahamas. "We are pleased to have completed the refinancing of Cable Bahamas' Senior Credit Facility on attractive terms. The business is now appropriately capitalized for the next chapter of the Company's growth". Mr. Butler further indicated that, "The refinancing will enable Cable Bahamas to continue with its growth strategy, complete the acquisition of the US target companies and also facilitates the flexibility to execute its plans to continue providing, enhancing and expanding the suite of telecommunication services in The Bahamas".

The Refinanced Senior Secured Credit Facility consists of a USD$100 million term loan, USD$15 million Revolving Credit Facility and a USD$20 million Incremental Credit Facility. Interest on the Facility is based on LIBOR plus applicable margins ranging between 2.5% - 4%. In addition to refinancing its current outstanding bank debt, Cable Bahamas will use the proceeds from the facilities to: (i) complete the purchase of the three remaining Florida telecommunication companies; and (ii) pay all fees and expenses related to the refinancing and acquisitions.

Commenting on the announcement, Cable Bahamas Senior Vice President and CFO Barry Williams stated, "The refinancing we just completed is the largest in the Company's history, and is another milestone that will greatly contribute to the continued success to our financial strength and operating performance. We are pleased with the ongoing support from our banking partners, and we believe the enhanced financial flexibility and our already strong free cash flow will serve us well into the future."

The syndicated term loan involved RBC Capital Markets, Scotiabank (Bahamas) Limited and CoBank, headquartered in Denver, Colorado. RBC Capital Markets acted as Sole Lead Arranger and Bookrunner for the cross-border debt facilities for the transaction.

About Cable Bahamas Ltd.

Cable Bahamas is the communications provider of choice and the first to offer triple play services in The Bahamas. Services are provided under the REV suite of products including REVOICE, REVON and REVTV covering telephony, Internet and cable TV respectively. The company has revolutionised every area of business, delivering REVOICE landline phone service at the lowest cost and with the most features in The Bahamas, REVON broadband Internet, which is the fastest in the nation, and REVTV cable TV services that includes more than 500 channels with dozens in HD and thousands of hours of video on demand content. Cable Bahamas serves residential and business customers on 16 islands in The Bahamas. The company also created the Cable Cares Foundation, which has awarded over $2 million to local Bahamian non-profit organisations since inception. For more information please visit the company website at www.cablebahamas.com, follow on Twitter @cablebahamas or visit the company Facebook page at www.facebook.com/GetRevdUp.