secwatch.observer — SEC 8-K summary
======================================

Issuer:     Optimum Communications, Inc. (OPTU)
CIK:        0001702780
Form:       8-K
Filed at:   2025-07-17T23:59:59+00:00
Accession:  0001104659-25-068717
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Altice USA subsidiary borrows $1B secured by NYC network receivables at 8.875%
------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702780/000110465925068717/0001104659-25-068717-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702780/000110465925068717/tm2521098d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-068717

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer