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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): December 31, 2000
JAMES CABLE PARTNERS, L.P.
JAMES CABLE FINANCE CORP.
(Exact name of registrant as specified in its charter)
Delaware 333-35183 38-2778129
Michigan 333-35183-01 38-3182724
(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation) Identification No.)
38710 N. Woodward Avenue, Suite 180
Bloomfield Hills, Michigan 48304
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (248) 647-1080
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
Under its Credit Agreement dated August 15, 1997, as amended, James Cable
Partners, L.P. was required to maintain a ratio of Consolidated Total Debt to
Consolidated Adjusted EBITDA of not more than 7.50 to 1.00 prior to December 31,
2000. Beginning December 31, 2000, that credit agreement requires James Cable
Partners, L.P. to maintain a ratio of Consolidated Total Debt to Consolidated
Adjusted EBITDA of not more than 7.25 to 1.00. James Cable Partners, L.P.
believes that since December 31, 2000 it has had a ratio of Consolidated Total
Debt to Consolidated Adjusted EBITDA in excess of 7.25 to 1.00. As of December
31, 2000, the outstanding principal balance under the credit agreement was
approximately $2.5 million.
James Cable Partners, L.P. has discussed with its lenders the possibility of
waiving, modifying or amending this requirement, and is seeking to obtain a
waiver, modification or amendment of this requirement. It is also seeking to
refinance the indebtedness outstanding under that credit agreement. There can be
no assurance that James Cable Partners, L.P. will be successful in any of these
endeavors.
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From time to time the registrants and their representatives may provide
information, whether orally or in writing, including certain statements in this
Form 8-K Report, which are deemed to be "forward-looking" within the meaning of
the Private Securities Litigation Reform Act of 1995 ("Litigation Reform Act").
These forward-looking statements and other information relating to the
registrants are based on the beliefs of management as well as assumptions made
by and information currently available to management.
The words "anticipate," "believe," "estimate," "expect," "intend," "will," and
similar expressions, as they relate to the registrants or the registrants'
management, are intended to identify forward-looking statements. Such statements
reflect the current views of the registrant with respect to future events and
are subject to certain risks, uncertainties and assumptions. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those described herein
as anticipated, believed, estimated or expected. The registrants do not intend
to update these forward-looking statements.
In accordance with the provisions of the Litigation Reform Act the registrants
are making investors aware that such "forward-looking" statements, because they
relate to future events, are by their very nature subject to many important
factors which could cause actual results to differ materially from those
contained in the "forward-looking" statements. Such factors include but are not
limited to those described in the registrants' Annual Report on Form 10-K under
Item 1 and Item 7.
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SIGNATURES
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 hereunto duly authorized.
JAMES CABLE PARTNERS, L.P.
By: James Communications Partners
General Partner
By: Jamesco, Inc.
Partner
By: /s/ William R. James
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Date: January 12, 2001 William R. James
President
By: James Communications Partners
General Partner
By: DKS Holdings, Inc.
Partner
By: /s/ Daniel K. Shoemaker
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Date: January 12, 2001 Daniel K. Shoemaker
President (Principal financial
officer and chief accounting officer)
JAMES CABLE FINANCE CORP.
By: /s/ William R. James
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Date: January 12, 2001 William R. James
President
By: /s/ Daniel K. Shoemaker
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Date: January 12, 2001 Daniel K. Shoemaker
Treasurer (Principal financial
officer and chief accounting officer)
