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Cablevision reminder on debt buy-back

Tue, 03/03/2009 - 7:40am
Brian Santo

Cablevision Systems plan to purchase back debt is so far being met with mixed results, with more than three-quarters of the holders of two issues tendering their notes, while only 40 percent of the holders of a third issue turned in theirs.

The company initiated the debt buy-back in February (story here). March 2 was the deadline for early tenders. The final deadline is March 13.

Cablevision said holders of approximately $196.3 million aggregate principal amount of notes due in April, $448.8 million aggregate principal amount of notes due in July, and $306.7 million aggregate principal amount of notes due in August tendered their notes.

This represents approximately 39.3 percent, 89.8 percent and 76.7 percent of the outstanding principal amount of the April notes, July notes and August notes, respectively.

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