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MarketScreener Homepage  >  Equities  >  Nyse  >  Altice USA, Inc.    ATUS

ALTICE USA, INC.

(ATUS)
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ALTICE USA, INC. : Other Events (form 8-K)

08/03/2020 | 05:15pm EST
Item 8.01 Other Events
On August 3, 2020, CSC Holdings LLC, a Delaware limited liability company (the
"Issuer"), an indirect wholly-owned subsidiary of Altice USA, Inc., successfully
priced an offering (the "Offering") of (i) $1,000.0 million in aggregate
principal amount of senior guaranteed notes due 2031 (the "Senior Guaranteed
Notes") and (ii) $1,700.0 million in aggregate principal amount of its 4.625%
senior notes due 2030 (the "Additional Senior Notes" and together with the
Senior Guaranteed Notes, the "Notes").
The Senior Guaranteed Notes will bear interest at a rate of 3.375% and will pay
interest semi-annually in arrears on February 15 and August 15 of each year,
beginning on February 15, 2021. The Senior Guaranteed Notes will mature on
February 15, 2031. The Issuer and each of its subsidiaries that will guarantee
the Senior Guaranteed Notes entered into a purchase agreement on August 3, 2020
with the representative of the initial purchasers named therein, related to the
issuance and sale of the Senior Guaranteed Notes. The proceeds from this
Offering, together with cash on balance sheet, are expected to be used to
refinance in full the Issuer's $1,000.0 million aggregate outstanding principal
amount of 6.625% senior guaranteed notes due 2025, together with redemption
premium, and to pay the fees, costs and expenses associated with the offering of
the Senior Guaranteed Notes and the refinancing.
The Additional Senior Notes will be issued as additional notes pursuant to an
indenture, dated as of June 16, 2020 (the "Senior Notes Indenture"), between,
among others, the Issuer and Deutsche Bank Trust Company Americas, as Trustee. A
copy of the Indenture was filed as Exhibit 4.1 to the Current Report on Form 8-K
dated as of June 16, 2020, and is incorporated herein by reference. The
Additional Notes will constitute a single series under the Senior Notes
Indenture, together with $625.0 million of the Issuer's 4.625% senior notes due
2030 issued on June 16, 2020 (the "Original Senior Notes"), and will have
identical terms as the Original Senior Notes, except that the Additional Senior
Notes will be issued at a price of 103.250% of the principal amount plus accrued
interest from June 16, 2020 until August 17, 2020. The Additional Senior Notes
will bear interest at a rate of 4.625% and will pay interest semi-annually in
arrears on December 1 and June 1 of each year, beginning on December 1, 2020.
The Additional Senior Notes will mature on December 1, 2030. The Issuer entered
into a purchase agreement on August 3, 2020 with the representative of the
initial purchasers named therein, related to the issuance and sale of the
Additional Senior Notes. The proceeds from this Offering, together with cash on
balance sheet, are expected to be used to refinance in full the Issuer's
$1,684.2 million aggregate outstanding principal amount of 10.875% senior notes
due 2025, together with redemption premium, and to pay the fees, costs and
expenses associated with the offering of the Additional Senior Notes and the
refinancing.
The Offering for the Senior Guaranteed Notes and the Additional Senior Notes is
expected to close on or about August 17, 2020, subject to customary closing
conditions. The Notes are being sold in a private placement only to qualified
institutional buyers pursuant to Rule 144A and to non-U.S. persons pursuant to
Regulation S under the U.S. Securities Act of 1933, as amended, subject to
prevailing market and other conditions.

© Edgar Online, source Glimpses

Stocks mentioned in the article
ChangeLast1st jan.
ALTICE EUROPE N.V. -0.07% 5.34 Real-time Quote.0.23%
ALTICE USA, INC. -4.20% 34.18 Delayed Quote.-5.78%
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More news
Financials (USD)
Sales 2020 9 873 M - -
Net income 2020 324 M - -
Net Debt 2020 24 758 M - -
P/E ratio 2020 61,9x
Yield 2020 -
Capitalization 19 296 M 19 296 M -
EV / Sales 2020 4,46x
EV / Sales 2021 4,34x
Nbr of Employees 10 700
Free-Float 24,8%
Chart ALTICE USA, INC.
Duration : Period :
Altice USA, Inc. Technical Analysis Chart | ATUS | US02156K1034 | MarketScreener
Technical analysis trends ALTICE USA, INC.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 28
Average target price 39,67 $
Last Close Price 35,68 $
Spread / Highest target 48,5%
Spread / Average Target 11,2%
Spread / Lowest Target -21,5%
EPS Revisions
Managers and Directors
NameTitle
Dexter G. Goei Chief Executive Officer & Director
Patrick Drahi Chairman
Abdelhakim Boubazine COO & President-Telecommunications
Michael Grau Chief Financial Officer
Philippe Le May Chief Technology Officer
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