SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported) June 29, 1998
ADELPHIA COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-16014 23-2417713
(State or other (Commission File Number) (IRS Employer
jurisdiction of IdentificationNo.)
incorporation)
Main at Water Street - Coudersport, PA 16915-1141
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (814) 274-9830
Item 5. Other Events
On June 29, Adelphia Communications, Inc. ("Adelphia") announced an offering of
Senior Notes due 2003 in a private placement to institutional investors. The
press release related to such announcement is filed hereto as Exhibit 99.01.
Item 7. Financial Statements and Exhibits
Exhibit 99.01 Press release issued June 29, 1998.
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: July 2, 1998 ADELPHIA COMMUNICATIONS CORPORATION
(Registrant)
By: /s/Timothy J. Rigas
Timothy J. Rigas
Executive Vice President,
Treasurer and Chief
Financial Officer
EXHIBIT INDEX
Exhibit No. Description
99.01 Press release issued June 29, 1998.
ADELPHIA ANNOUNCES
PRIVATE PLACEMENT OF DEBT
Coudersport, PA., June 29, 1998-- Adelphia Communications Corporation
(NASDAQ-NNM:ADLAC) announced that it has sold $150,000,000 aggregate principal
amount of 8-1/8% Senior Notes due 2003 to institutional investors in reliance on
Rule 144A. The 8-1/8% Senior Notes due 2003 will be noncallable, and will have
other non-interest terms that will be similar to those of Adelphia's existing
publicly held senior debt. The transaction is expected to close on July 2, 1998.
Adelphia intends to use the net proceeds from the sale of the 8-1/8% Senior
Notes due 2003 to repay existing indebtedness of subsidiaries.
The 8-1/8% Senior Notes due 2003 have not been registered under the Securities
Act of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of any securities referred to herein in
any state in which such offer, solicitation or sale would be unlawful.
Adelphia Communications Corporation is the seventh largest cable television
operator in the United States and currently owns or manages cable television
systems serving approximately 2 million subscribers in 12 states.
Contact: Timothy J. Rigas, Executive Vice President (814) 274-9830.
