CSC Holdings, LLC Announces Allocation of New Incremental Term Loan Facility
CSC Holdings, LLC (the “Borrower”) announces the pricing and allocation of a new $1,500.0 million incremental term loan facility
(the “Term Loans”) under its existing credit agreement originally dated as of October 9, 2015, as amended, restated, modified or
supplemented from time to time. The Borrower is an indirect, wholly-owned subsidiary of Altice USA, Inc. (“Altice USA”).
The Term Loans will be priced at 99.50% and will mature in January 2026. The Term Loans may be comprised of eurodollar
borrowings or alternate base rate borrowings, and will bear interest at a rate per annum equal to the adjusted LIBO rate or the
alternate base rate, as applicable, plus the applicable margin, where the applicable margin is (i) with respect to any alternate
base rate loan, 1.50% per annum and (ii) with respect to any eurodollar loan, 2.50% per annum.
The proceeds of the Term Loans will be used, together with proceeds from the Borrower’s anticipated offering of senior
guaranteed notes (the “Notes”), borrowings under the Borrower’s revolving credit facility and cash on balance sheet, to (i)
refinance certain existing indebtedness of the Borrower and Cablevision Systems Corporation (“Cablevision”), the direct parent of
the Borrower, and (ii) fund a dividend of $1,500.0 million to Altice USA (through Cablevision). Altice USA is expected to use such
proceeds to fund a dividend to its stockholders immediately prior to and in connection with the separation of Altice USA from its
controlling stockholder, Altice N.V.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, any security, including the
Notes. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be
unlawful.
About Altice USA
Altice USA (NYSE:ATUS), the U.S. business of Altice N.V. (Euronext: ATC, ATCB), is one of the largest broadband communications
and video services providers in the United States, delivering broadband, pay television, telephony services, Wi-Fi hotspot access,
proprietary content and advertising services to approximately 4.9 million residential and business customers across 21 states
through its Optimum and Suddenlink brands.
About Altice N.V.
Founded in 2001 by entrepreneur Patrick Drahi, Altice is a convergent global leader in telecom, content, media, entertainment
and advertising. Altice delivers innovative, customer-centric products and solutions that connect and unlock the limitless
potential of its over 50 million customers over fiber networks and mobile broadband. The company enables millions of people to live
out their passions by providing original content, high-quality and compelling TV shows, and international, national and local news
channels. Altice delivers live broadcast premium sports events and enables millions of customers to enjoy the most well-known media
and entertainment. Altice innovates with technology in its Altice Labs across the world. Altice links leading brands to audiences
through premium advertising solutions. Altice is also a global provider of enterprise digital solutions to millions of business
customers. Altice is present in 10 territories from New York to Paris, from Tel Aviv to Lisbon, from Santo Domingo to Geneva, from
Amsterdam to Dallas. Altice (ATC & ATCB) is listed on Euronext Amsterdam.
Forward-Looking Statements
This press release contains statements about future events, projections, forecasts and expectations that are forward-looking
statements. Any statement in this press release that is not a statement of historical fact is a forward-looking statement that
involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements
to be materially different from any future results, performance or achievements expressed or implied by such forward-looking
statements. In addition, past performance of the Borrower and its affiliates cannot be relied on as a guide to future performance.
The Borrower and its affiliates make no representation on the accuracy and completeness of any of the forward-looking statements,
and, except as may be required by applicable law, assume no obligations to supplement, amend, update or revise any such statements
or any opinion expressed to reflect actual results, changes in assumptions or in the Borrower’s or its affiliates’ expectations, or
changes in factors affecting these statements. Accordingly, any reliance you place on such forward-looking statements will be at
your sole risk.
Altice NV
Nick Brown, +41 79 720 15 03
Head of Investor Relations
nick.brown@altice.net
or
Altice NV
Arthur Dreyfuss, +41 79 946 49 31
Head of Communications
arthur.dreyfuss@altice.net
or
Altice USA
Lisa Anselmo, +1 516-803-2362
Head of Communications
lisa.anselmo@alticeusa.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20180116005733/en/