Altice USA Announces Successful Pricing of $1,500 Million Senior Guaranteed Notes Due 2029

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NEW YORK--(BUSINESS WIRE)-- Altice USA, Inc (NYSE: ATUS) (“Altice USA”, or “the Company”), today announces that its wholly owned subsidiary CSC Holdings, LLC (the “Issuer”) successfully priced an offering (the “Offering”) of $1,500.0 million in aggregate principal amount of its Senior Guaranteed Notes due 2029 (the “Notes”). The Notes will bear interest at a rate of 6.500% and will pay interest semi-annually in arrears on February 1 and August 1 of each year, beginning on August 1, 2019. The Notes will mature on February 1, 2029. The Offering is expected to close on or about January 31, 2019, subject to customary closing conditions.

The Issuer intends to use the net proceeds from the sale of the Notes to repay certain indebtedness, including to repay at maturity $526.0 million aggregate principal amount of the Issuer’s existing 8.625% Senior Notes due February 2019, redeem approximately $905.3 million of the aggregate outstanding amount of the Issuer’s existing 10.125% Senior Notes due 2023 at a redemption price of 107.594% plus accrued interest, and pay fees and expenses associated with the transactions.

The Notes are being sold in a private placement only to qualified institutional buyers pursuant to Rule 144A and non-U.S. persons pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), subject to prevailing market and other conditions. There is no assurance that the Offering will be completed or, if completed, as to the terms on which they are completed. The Notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. This press release is for informational purposes only and 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.

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 Issuer and its respective affiliates cannot be relied on as a guide to future performance. The Issuer and its respective 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 Issuer’s or it’s respective 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.

About Altice USA

Altice USA (NYSE: ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, pay television, telephony services, proprietary content and advertising services to approximately 4.9 million Residential and Business customers across 21 states through its Optimum and Suddenlink brands.

Nick Brown, +1 917 589 9983
Head of Investor Relations
nick.brown@alticeusa.com
Lisa Anselmo, +1 929 418 4362
Head of Communications
lisa.anselmo@alticeusa.com

Source: Altice USA, Inc

Released January 25, 2019