Ropes & Gray Advises Altice USA on a $1.5 Billion Bond Offering and $2.56 Billion Refinancing of Revolving Credit Facilities

Ropes & Gray has advised Altice USA - one of the largest broadband communications and video services providers in the United States – on the issuance of $1.5 billion Senior Guaranteed Notes due 2029 by its subsidiary CSC Holdings. The firm also advised Altice USA on a refinancing of CSC Holdings’ existing revolving credit facility. Following the refinancing, the total size of the revolving credit facility was increased to $2.56 billion, including $2.17 billion of new commitments with an extended maturity to January 2024. 

These transactions were the first financings by Altice USA since the combination of its Suddenlink (Cequel) and Optimum (Cablevision) businesses under a single credit silo in November 2018 and are the latest in a string of cross-border mandates for the London finance team of Ropes & Gray, following on the heels of the financing of the acquisition of PhysIOL by BVI in December of 2018. The London team’s depth of knowledge of US and European debt markets, across both bank and bond products, offers clients maximum flexibility in their choice of debt instrument and geography to create optimum, “one-stop-shop” solutions for all of their financing needs. 

The Ropes & Gray team was led by finance partner Michael Kazakevich alongside finance counsel Alexandru Mocanu. Both are based in the firm's London office.