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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C., 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of
Earliest event reported): December 10, 1999
OPTEL, INC.
(Exact name of registrant as specified in its charter)
Delaware 95-4495524
(State or other jurisdiction (I.R.S. Employer Identification
of incorporation or organization) Number)
333-24881
(Commission File Number)
1111 West Mockingbird Lane, Suite 1000, Dallas, Texas 75247
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 634-3800
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ITEM 5. OTHER MATERIALLY IMPORTANT EVENTS
On December 10, 1999, the Registrant issued the press release
attached hereto as Exhibit "A" announcing Registrant's closing of a $60,000,000
revolving credit facility.
ITEM 7. EXHIBITS
Press Release, dated December 10, 1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: December 14, 1999
OpTel, Inc.
(Registrant)
By: /s/ SCOTT V. WILLIAMS
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Name: Scott V. Williams
Title: Vice President and General
Counsel
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EXHIBIT INDEX
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<CAPTION>
Exhibit
No. Description
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<C> <C>
99 Press Release, dated December 10, 1999
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OpTel, Inc
[OPTEL LOGO]
OPTEL, INC. CLOSES $60,000,000 REVOLVING CREDIT FACILITY
DALLAS, December 10, 1999 - OpTel, Inc ("OpTel") announced today that it has
closed a $60 million asset-based secured revolving credit facility from The CIT
Group/Business Credit, Inc. and Foothill Capital Corporation.
The Company expects that proceeds of the facility will fund its working capital
requirements while under Chapter 11 protection.
OpTel is a leading network based provider of integrated communications
services, including local and long distance telephone, cable television and
high speed Internet access services in the United States. The Company currently
provides cable television and telecommunications services in a number of
metropolitan areas including Los Angeles, San Diego, San Francisco, Phoenix,
Denver, Houston, Dallas-Fort Worth, Chicago, Indianapolis, Atlanta, Miami-Ft.
Lauderdale and Orlando-Tampa. OpTel is majority owned by Le Groupe Videotron
Ltee, owner of the second largest cable television operator in Canada.
# # #
For further information, please contact:
Waqar Nasim
Treasurer
214-634-4029
THE FOREGOING INCLUDES CERTAIN FORWARD LOOKING STATEMENTS THAT ARE IDENTIFIED
BY WORDS SUCH AS "EXPECT" AND SIMILAR EXPRESSIONS. ACHIEVEMENT OF SUCH
EXPECTATIONS IS SUBJECT TO VARIOUS RISKS AND UNCERTAINTIES, INCLUDING, AMONG
OTHERS, THE AVAILABILITY OF ADDITIONAL FINANCING ON A TIMELY BASIS AND ON
REASONABLE TERMS, OBTAINING VARIOUS REGULATORY APPROVALS AND SUCCESSFUL
MANAGEMENT OF THE COMPANY'S EXPANSION PLANS.
