Optimum Communications, Inc. (OPTU): debt financing — Altice USA subsidiary CSC Holdings issues $1.0B of 11.250% senior notes due 2028

Optimum Communications, Inc.

$1.0B aggregate principal of 11.250% senior guaranteed notes due May 15, 2028 issued on April 25, 2023.
Interest payable semi-annually on May 15 and Nov. 15; first payment Nov. 15, 2023.
Proceeds used for general corporate purposes, including refinancing debt, capex, and fees.
Up to 40% of notes redeemable before May 2025 with equity offering proceeds at 111.250% of par.
On and after May 15, 2025, redeemable at 105.625% (2025), 102.813% (2026), par thereafter.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

Optimum Communications, Inc. incurred senior notes of $1,000.0 million aggregate principal amount with Deutsche Bank Trust Company Americas, as Trustee at 11.250% senior guaranteed notes due 2028 maturing May 15, 2028.

Instrument: senior notes
Principal: $1,000.0 million aggregate principal amount
Counterparty: Deutsche Bank Trust Company Americas, as Trustee
Rate: 11.250% senior guaranteed notes due 2028
Maturity: May 15, 2028
Event: incurrence

Exact text from the filing

On April 25, 2023, CSC Holdings, LLC (the “Issuer”), an indirect, wholly-owned subsidiary of Altice USA, Inc., issued $1,000.0 million aggregate principal amount of 11.250% senior guaranteed notes due 2028 (the “ Notes ”) in a private placement conducted pursuant to Rule 144A and Regulations S under the Securities Act of 1933, as amended (the “ Offering ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Optimum Communications, Inc. entered into Indenture with Deutsche Bank Trust Company Americas valued at $1,000.0 million aggregate principal amount of 11.250% senior guaranteed notes due 2028 (effective 2023-04-25).

Action: entry
Agreement: notes offering
Counterparty: Deutsche Bank Trust Company Americas
Value: $1,000.0 million aggregate principal amount of 11.250% senior guaranteed notes due 2028
Effective: 2023-04-25

Exact text from the filing

On April 25, 2023, CSC Holdings, LLC (the “Issuer”), an indirect, wholly-owned subsidiary of Altice USA, Inc., issued $1,000.0 million aggregate principal amount of 11.250% senior guaranteed notes due 2028 (the “ Notes ”) in a private placement conducted pursuant to Rule 144A and Regulations S under the Securities Act of 1933, as amended (the “ Offering ”).

View on SEC.gov

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Optimum Communications, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-013364

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