Cablevision launches tender offer for its $1 billion 8% notes due 2012

By Susanna Moon

Chicago, April 12 - Cablevision Systems Corp. said it began a tender offer for all of its $1 billion of 8% senior notes due 2012.

The company said it will pay $1,105 per $1,000 principal amount of the notes, including a $60 premium for notes tendered by 11:59 p.m. ET on April 26.

The tender offer will expire at 11:59 p.m. ET on May 10.

The tender offer will not be conditioned on any minimum tender amount. The completion of the offer, however, will be subject to the company's proposed offering of senior notes.

Cablevision said in a separate press release that funding for the offer will come from a public offering of $1 billion principal amount of senior notes due 2018 and senior notes due 2020.

J.P. Morgan Securities Inc. (800 245-8812 or collect 212 270-3994), Bank of America Merrill Lynch (888 292-0700 or collect 646 855-3401), Citigroup Global Markets Inc. (800 558-3745 or collect 212 723-6106) and Credit Suisse Securities (USA) LLC (800 820-1653 or collect 212 325-5912) are the dealer managers for the tender offer.

MacKenzie Partners Inc. (800 322-2885 or collect 212 929-5500) is the information agent.

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

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