Cablevision accepts $972.42 million of 8% senior notes in early tender

By Devika Patel

Knoxville, Tenn., April 27 - Cablevision Systems Corp. said it accepted $972.42 million of its 8% senior notes due 2012 as part of its $1 billion tender offer that began on April 12.

The company is paying $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 early tender deadline.

Payments for the notes that were tendered by the early tender date are expected to be made by April 27.

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

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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