Cablevision closes offering of $900 million of senior notes
By APWednesday, September 23, 2009
Cablevision closes note offering
BETHPAGE, N.Y. — Cablevision Systems Corp. said Wednesday it has closed an offering of $900 million in 8.625 percent senior notes due 2017.
The Bethpage, N.Y.-based based cable provider said the offering was made to certain institutional investors. The company plans to use the proceeds to buy shares of its subsidiary CSC Holdings Inc.
CSC will in turn use the proceeds, along with cash on hand to repay debt.
Shares of Cablevision fell 53 cents, or 2.1 percent, to $24.54 in afternoon trading.
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