Altice NV: Altice announces successful refinancing of existing debt of its Optimum credit pool, pricing $2.5 billion of Senior Secured Term Loan B and $1.31 billion of Senior Guaranteed Notes

Altice announces successful refinancing of existing debt of its Optimum credit pool, pricing $2.5 billion of Senior Secured Term Loan B and $1.31 billion of Senior Guaranteed NotesSeptember 12, 2016- Altice N.V. (Euronext: ATCA, ATCB) announces that CSC Holdings, LLC (''Optimum'') has...

London, 12/09/2016 (informazione.it - comunicati stampa - telecomunicazioni)

- Altice N.V. (Euronext: ATCA, ATCB) announces that CSC Holdings, LLC (''Optimum'') has successfully priced $2.5 billion of 8-year Senior Secured Term Loan B and $1.31 billion of 10.5-year Senior Guaranteed Notes (Non-Call 5.5) in a Rule 144A / Regulation S offering to institutional investors. Closing of the new financing is subject to customary closing conditions and the proceeds will be used by Optimum to refinance the entire $3.8 billion principal amount of loans under Optimum's existing Term Loan Facility that matures in October 2022.

Following the consummation of the refinancing, the average maturity of Optimum's capital structure has been materially extended from 5.9 years to 6.6 years, strengthening Altice's liquidity profile. The weighted average cost of Optimum's debt will decrease from 7.4% to 7.2%.

The new Senior Secured Term Loan B, which was upsized in-market, will have a margin of 300bps over Libor, a 75bps Libor floor and be issued at an OID of 99.75. This represents a significant reduction to the existing Term Loan margin of 400bps over Libor and the 100bps Libor floor. The new Senior Guaranteed Notes will have a coupon of 5.50%.

, said:

For additional information, please refer to the Current Report section of the Altice USA website at http://alticeusa.com/investor-information/

Nick Brown: +41 79 720 15 03
nick.brown@altice.net

Arthur Dreyfuss: +41 79 946 49 31
arthur.dreyfuss@altice.net

Lisa Anselmo: +1 516 279 9461
lisa.anselmo@alticeusa.com 

Founded by telecom entrepreneur, Patrick Drahi, Altice is a multinational cable, fiber, telecommunications, contents and media company with presence in four regions - Western Europe (comprising France, Belgium, Luxembourg, Portugal and Switzerland), the United States, Israel, and the Overseas Territories (currently comprising the French Caribbean, the Indian Ocean regions and the Dominican Republic). Altice provides very high speed based services (high quality pay television, fast broadband Internet and fixed line telephony) and, in certain countries, mobile telephony services to residential and corporate customers. Altice is also active in the media space with a portfolio of channels (News, Sports, Lifestyle etc.) as well as providing Premium content on nonlinear platforms; it also produces its own original content (Series, Movies etc.).

For more information, visit www.altice.net

Altice USA, a subsidiary of Altice Group (Euronext: ATC, ATCB), is the fourth largest cable operator in the United States, delivering residential and business services to 4.6 million customers across 20 states. Providing high-quality products that keep customers connected, Altice USA (through its Optimum, Lightpath and Suddenlink brands) offers digital cable television, high-speed Internet, voice, WiFi and advertising services. To meet our customers' content and information needs, the company through News 12 also offers hyper-local news and programming created specifically for the communities we serve. For more information, visit www.alticeusa.com