Cablevision Prices $750M Notes Offering
BETHPAGE, N.Y.--(BUSINESS WIRE)--Cablevision Systems Corporation (NYSE: CVC) today announced that it has priced a public offering of $750 million in aggregate principal amount of 5.875% senior notes due 2022. The offering is expected to close on September 27, 2012, subject to customary closing conditions.
Cablevision intends to invest the net proceeds of this offering in its subsidiary, CSC Holdings LLC, with which CSC Holdings LLC will address its upcoming debt maturities by making tender offers for $600 million of its 8.50% Senior Notes due 2015 and 8.50% Senior Notes due 2014, repaying $150 million of its Term Loan B-2 and for general corporate purposes.
Robinson Humphrey, Inc., UBS Securities LLC and U.S. Bancorp Investments, Inc. will also act as joint book-runners for the offering.
Cablevision Systems Corporation is one of the nation's leading media and telecommunications companies. In addition to delivering its Optimum-branded cable, Internet, and voice offerings throughout the New York area, the Company owns and operates cable systems serving homes in four Western states. Cablevision’s local media properties include News 12 Networks, MSG Varsity and Newsday Media Group. Cablevision also owns and operates Clearview Cinemas. Additional information about Cablevision is available on the Web at www.cablevision.com.