Optimum Communications, Inc. (OPTU): debt financing — Altice USA subsidiary borrows $1B secured by NYC network receivables at 8.875%

Optimum Communications, Inc.

Cablevision Funding LLC, indirect sub of Altice USA, entered $1,000M secured term loan on July 16, 2025.
Loan carries 8.875% fixed rate, issued at 400 bps OID, matures Jan 16, 2031.
Principal amortizes at 2% per annum (5% after Jan 16, 2028 or if incremental loans exceed $50M).
Proceeds used for working capital, debt prepayment, interest reserve, and transaction costs.
Facility secured by receivables and network assets in the Bronx and Brooklyn service areas.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Optimum Communications, Inc. incurred term loan of initial term loan commitments in an aggregate principal amount of $1,000 million with Goldman Sachs Bank USA and certain funds managed by TPG Angelo Gordon, as initial lenders at fixed rate per annum equal to 8.875% maturing mature on January 16, 2031.

Instrument: term loan
Principal: initial term loan commitments in an aggregate principal amount of $1,000 million
Counterparty: Goldman Sachs Bank USA and certain funds managed by TPG Angelo Gordon, as initial lenders
Rate: fixed rate per annum equal to 8.875%
Maturity: mature on January 16, 2031
Event: incurrence

Exact text from the filing

The Loan and Security Agreement provides for, among other things, initial term loan commitments in an aggregate principal amount of $1,000 million, issued with an original issue discount of 400 basis points. The loans made pursuant to the initial term loan commitments (the “Initial Term Loans”) will (i) mature on January 16, 2031; (ii) accrue interest at a fixed rate per annum equal to 8.875%

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Optimum Communications, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-068717

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