Cablevision, CSC Holdings tender for three series of notes

By Susanna Moon

Chicago, Feb. 13 - Cablevision Systems Corp. and its subsidiary CSC Holdings, Inc. said they began cash tender offers for Cablevision's $500 million floating-rate senior notes due April 1, 2009, CSC's $500 million 8 1/8% senior notes due July 15, 2009 and CSC's 8 1/8% senior debentures due Aug. 15, 2009.

The offers will expire at 11:59 p.m. ET on March 13.

For each $1,000 principal amount, total payout for the floaters will be $1,002.50, including an early tender premium of $5.00 for notes tendered by 11:59 p.m. ET on Feb. 27; $1,022.84 for the 8 1/8% notes due July 15, 2009, including an early premium of $22.84; and $1,027.63 for the 8 1/8% notes due Aug. 15, 2009, including an early premium of $27.63.

Payment will include accrued interest from the last interest payment date to the settlement date.

Tenders of Cablevision's floaters cannot be withdrawn. Tenders of CSC notes may be withdrawn at any time prior to 11:59 p.m. ET on Feb. 27.

The settlement dates are expected to be one business day following the expiration of the tender offers.

J.P. Morgan Securities Inc. (800 245-8812 or collect 212 270-3994) is the dealer manager. The Bank of New York Mellon (21) 815-5098) is the depositary, and MacKenzie Partners (800 322-2885 or collect 212 929-5500) is the information agent.

The issuer is a Bethpage, N.Y.-based media and entertainment company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.