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.

item 1.01item 2.03item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.