Cablevision Systems is planning to issue US$500m of 10-year senior notes to repay debt.
The New York-based cableco has mandated Citigroup to work on the offering.
Cablevision will use the proceeds to pay-off debt incurred under its existing credit…
Cablevision Systems is planning to issue US$500m of 10-year senior notes to repay debt.
The New York-based cableco has mandated Citigroup to work on the offering.
Cablevision will use the proceeds to pay-off debt incurred under its existing credit facility.
The bond will be issued through its subsidiary CSC Holdings.
In its Q1 results Cablevision disclosed net debt of US$8.2bn.
In April the family-controlled cableco promoted Brian Sweeney, its senior executive vice president of strategy, to company president, taking over the role from CEO James Dolan, who had held it since the late nineties.
In addition 24-year company veteran Kristin Dolan, who was president of the cableco’s Optimum unit, was made COO.
Cablevision offers cable television, broadband and voice services, primarily in the greater New York area, and has a market capitalisation of US$4.69bn.
