The Firm represented J.P. Morgan Securities LLC, Barclays Bank PLC, BNP Paribas Securities Corp., Crédit Agricole Corporate and Investment Bank, Deutsche Bank Securities Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., Société Générale and TD Securities (USA) LLC, as the initial purchasers in the Rule 144A/Regulation S offering of $1.31 billion aggregate principal amount of 5.5% Senior Guaranteed Notes due 2027 by CSC Holdings, LLC (“Optimum”).
Proceeds from the transaction will be used to refinance $1.3 billion aggregate principal amount of the company’s term loans.
Optimum serves approximately 2.6 million video customers in and around the New York metropolitan area and also provides high-speed data and voice services. Optimum is a subsidiary of Altice USA, which delivers residential and business telecommunications services to 4.6 million customers across 20 states. Altice USA is a subsidiary of Altice Group (Euronext: ATC, ATCB).
The Simpson Thacher team for the transaction included Art Robinson, Lesley Peng, Brian E. Rosenzweig, Rodrigo Surcan dos Santos and Davis Mahon (Capital Markets—New York); and Gil Strauss, Uma Sud and Aled Knights (Capital Markets—London).