Cablevision APE debt exchange includes bond, stock and cash options

By Caroline Salls

Pittsburgh, Oct. 7 - Cablevision SA's Acuerdo Preventivo Extrajudicial gives three options to existing debtholders to exchange that debt, according to a company news release.

A total of $796.38 million of existing debtholders approved the APE, while holders of $9.84 million of existing debt did not approve it.

Options under the debt exchange include:

* Short-term bonds option: $150.08 million in seven-year discount bonds in exchange for $215.11 million of existing debt;

* Long-term bonds option: $235.12 million of 10-year notes in exchange for $235.12 million of existing debt;

* Stock option: 20% of the company's shares of class B common stock in exchange for $60 million of existing debt; or

* Cash option: $114.46 million in cash in exchange for $286.15 million of existing debt.

Cablevision is an Argentine cable television company.

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