Cablevision tenders for 8½% notes due 2015 and 8½% notes due 2014

By Jennifer Chiou

New York, Sept. 13 - Cablevision Systems Corp. subsidiary CSC Holdings, LLC announced the launch of tender offers for its $120,543,000 of outstanding 8½% senior notes due June 15, 2015 and $575,633,000 of outstanding 8½% senior notes due April 15, 2014.

The notes are listed in order of acceptance priority level, and the company is tendering for up to $400 million of the notes.

For each $1,000 principal amount, the company is offering $1,046.25 for the notes due 2015 and $1,113.00 for the notes due 2014. The amounts include an early tender premium of $30.00 for notes tendered prior to 5 p.m. ET on Sept. 26.

CSC will also pay accrued interest.

The tender offers will expire at 11:59 p.m. ET on Oct. 11.

The offers do not have a minimum tender condition, but they are conditioned on the completion of Cablevision's proposed offering of senior notes.

Bank of America Merrill Lynch (888 292-0070 or call collect 646 855-3401), J.P. Morgan Securities LLC (800 245-8812 or call collect 212 270-1200), Barclays (800 438-3242 or call collect 212 528-7581) and BNP Paribas Securities Corp. (888 210-4538 or call collect 212 841-3059) are the dealer managers. The information agent is MacKenzie Partners Inc. (800 322-2885 or call collect 212 929-5500).

Cablevision is a Bethpage, N.Y.-based media and telecommunications company.

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