Altice USA to use note proceeds to temporarily pay down revolver

By Mary-Katherine Stinson

Lexington, Ky., April 19 – Altice USA Inc. (CSC Holdings LLC) intends to use the proceeds from a new issue of senior guaranteed notes to temporarily pay down its revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds of the new notes are designated for general corporate purposes, which may include refinancing, to finance capital expenditures and to pay related costs and fees of the new issue. However, pending the application of the proceeds for these purposes, the issuer may use them to temporarily repay outstanding borrowings under the revolver.

Altice priced $1 billion of notes due 2028 through a subsidiary on April 18, Prospect News reported. The issuance is expected to close on April 25.

Altice USA is a broadband communications and video services provider.

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