Press release from Business Wire
CSC Holdings Announces Redemption of Senior Notes
Thursday, July 25, 2013
CSC Holdings Announces Redemption of Senior Notes08:30 EDT Thursday, July 25, 2013
BETHPAGE, N.Y. (Business Wire) -- CSC Holdings, LLC (the “Company”), a subsidiary of Cablevision Systems Corporation (NYSE: CVC), announced today the redemption in full of (1) its outstanding 8.50% Senior Notes due 2014 (CUSIP Number: 126307 AA5) (the “2014 Notes”) and (2) its 8.50% Senior Notes due 2015 (CUSIP Number: 126307 AB3) (the “2015 Notes” and, together with the 2014 Notes, the “Notes”) on August 26, 2013 (the “Redemption Date”).
The redemption price for the 2014 Notes is equal to the greater of (i) 100% of the principal amount of the 2014 Notes or (ii) the make-whole redemption amount calculated in accordance with the terms of the indenture under which the 2014 Notes were issued, plus accrued and unpaid interest on the 2014 Notes from and including April 15, 2013 (the last interest payment date) to but excluding the Redemption Date. The aggregate principal amount of 2014 Notes outstanding on July 25, 2013, was $204,937,000.00.
The redemption price for the 2015 Notes is 102.125% of the principal amount of the 2015 Notes, plus accrued and unpaid interest on the 2015 Notes from and including June 15, 2013 (the last interest payment date) to but excluding the Redemption Date. The aggregate principal amount of 2015 Notes outstanding on July 25, 2013, was $91,543,000.00.
This press release is for informational purposes only and shall not constitute an offer to purchase the Notes or any other securities.
DISCLOSURE NOTICE: This press release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the Company and its business, operations, financial condition and the industry in which it operates and the factors described in the Company's filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The Company disclaims any obligation to update the forward-looking statements contained herein.
About CSC Holdings, LLC
CSC Holdings, LLC, is a subsidiary of Cablevision Systems Corporation (NYSE: CVC), which is one of the nation's leading media and telecommunications companies, delivering its Optimum-branded television, Internet, and voice offerings throughout the New York area. The Company's local media properties include News 12 Networks, MSG Varsity and Newsday Media Group. Additional information about Cablevision is available on the Web at www.cablevision.com.
Cablevision Systems Corporation
Kelly McAndrew, 516-803-2351
Bret Richter, 516-803-2270