Broadband Briefs for 09/24/09
• Cablevision closes note offering
By The Associated Press
BETHPAGE, N.Y. (AP) – 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.
• DirecTV up to 132 local HD markets
By CED staff
DirecTV is now offering local HD programming to customers in the Huntsville-Decatur, Ala., and Charleston-Huntington, W.Va., designated market areas.
DirecTV now offers local HD broadcast channels in 132 markets, representing more than 91 percent of U.S. TV households.
• Dish subsidiary makes debt offering
By CED staff
Dish Network Corp.’s subsidiary, Dish DBS Corp., plans to offer approximately $300 million aggregate principal amount of debt securities.
Dish said that the net proceeds of the offering are intended to be used for general corporate purposes.
The notes will only be offered and sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended, and in offshore transactions in accordance with Regulation S under the Securities Act, according to the company. The notes may not be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements.