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Altice USA units price $1.05B debt offering


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Altice USA units price $1.05B debt offering

Cequel Communications Holdings I LLC and Cequel Capital Corp., indirect, wholly owned subsidiaries of Altice USA Inc., priced $1.05 billion in senior notes due 2028.

The notes will bear interest at a rate of 7.500% and will pay interest semiannually in arrears on April 1 and Oct. 1 of each year, starting on Oct. 1 this year, according to a Form 8-K filed March 23.

The offering is expected to close on or about April 5.

The companies plan to use the proceeds, together with cash on hand, to redeem the $1.05 billion outstanding of the co-issuers' existing 6.375% senior notes due 2020 and to pay related fees, costs and expenses.

Altice USA, the U.S. business of Altice NV, is a broadband communications and video services providers in the U.S., offering broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content and advertising services to about 4.9 million residential and business customers across 21 states.