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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)

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06/02/2020 | 05:17pm EDT

Item 8.01 Other Events On June 2, 2020, CSC Holdings LLC, a Delaware limited liability company ("CSC" or the "Issuer"), an indirect wholly-owned subsidiary of Altice USA, Inc. (the "Company"), successfully priced an offering (the "Offering") of (i) $1,100.0 million in aggregate principal amount of its Senior Guaranteed Notes due 2030 (the "Senior Guaranteed Notes") and (ii) $625.0 million in aggregate principal amount of its Senior Notes due 2030 (the "Senior Notes" and together with the Senior Guaranteed Notes, the "Notes").

The Senior Guaranteed Notes will bear interest at a rate of 4.125% and will pay interest semi-annually in arrears on December 1 and June 1 of each year, beginning on December 1, 2020. The Senior Guaranteed Notes will mature on December 1, 2030. The Issuer and each of its subsidiaries that will guarantee the Senior Guaranteed Notes entered into a purchase agreement on June 2, 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 $1,095.8 million aggregate outstanding principal amount of 5.375% Senior Guaranteed Notes due 2023, 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 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 Senior Notes will mature on December 1, 2030. The Issuer entered into a purchase agreement on June 2, 2020 with the representative of the initial purchasers named therein, related to the issuance and sale of the 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 $1.7 million aggregate outstanding principal amount of 7.750% Senior Notes due 2025 and $617.9 million aggregate outstanding principal amount of 7.750% Senior Notes due 2025, together with redemption premium, and to pay the fees, costs and expenses associated with the offering of the Senior Notes and the refinancing. The Offering for the Notes is expected to close on or about June 16, 2020, each 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. 7.62% 4.15 Delayed Quote.-32.92%
ALTICE USA, INC. 0.52% 26.005 Delayed Quote.-5.12%
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Financials (USD)
Sales 2020 9 873 M - -
Net income 2020 311 M - -
Net Debt 2020 23 088 M - -
P/E ratio 2020 47,4x
Yield 2020 -
Capitalization 15 396 M 15 396 M -
EV / Sales 2019
EV / Sales 2020 3,90x
Nbr of Employees 10 700
Free-Float 27,0%
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Technical analysis trends ALTICE USA, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 31,33 $
Last Close Price 25,94 $
Spread / Highest target 46,5%
Spread / Average Target 20,8%
Spread / Lowest Target -7,48%
EPS Revisions
Managers
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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