Cablevision Announces Closing of Offering of $750 Million of Senior Notes
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 through the tender offers it commenced on September 13, 2012 for $600 million of its 8.50% Senior Notes due 2015 and 8.50% Senior Notes due 2014, by repaying amounts outstanding of its Term Loan B-2 and for general corporate purposes.
The senior notes are being offered pursuant to the company's existing shelf registration statement, which became automatically effective upon filing with the Securities and Exchange Commission. A final prospectus supplement and accompanying prospectus describing the terms of the offering was filed with the Securities and Exchange Commission. BofA Merrill Lynch is acting as one of the joint book-runners for the offering. Copies of the final prospectus supplement and accompanying prospectus for the offering may be obtained from: Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attn: Prospectus Department, 222 Broadway, 7th Floor, New York, NY 10038, by calling toll free 1-800-294-1322 or by emailing firstname.lastname@example.org.
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.
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the company and its business, operations, financial condition and the industries in which it operates and the factors described in Cablevision's filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. Cablevision disclaims any obligation to update the forward-looking statements contained herein.
Cablevision Systems Corporation
Kelly McAndrew, 516-803-2351
Bret Richter, 516-803-2262
Senior Vice President
Financial Strategy & Development
KEYWORDS: United States North America New York
The article Cablevision Announces Closing of Offering of $750 Million of Senior Notes originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.