Cablevision 2013 Annual Report Download - page 153

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
F-44
Issuance of Debt Securities
Cablevision 5-7/8% Senior Notes Due 2022
In September 2012, Cablevision issued $750,000 aggregate principal amount of 5-7/8% senior notes due
September 15, 2022 (the "2022 Notes") in a registered public offering. The 2022 Notes are senior
unsecured obligations and rank equally in right of payment with all of Cablevision's other existing and
future unsecured and unsubordinated indebtedness. Cablevision may redeem all or a portion of the 2022
Notes at any time at a price equal to 100% of the principal amount of the 2022 Notes redeemed plus
accrued and unpaid interest to the redemption date plus a "make whole" premium. Cablevision
contributed the net proceeds of approximately $735,000 from the issuance of the 2022 Notes to CSC
Holdings, and CSC Holdings used those proceeds to (i) repurchase a portion of 8-1/2% CSC Holdings
Senior Notes Due June 2015 ("June 2015 Notes") and a portion of the 8-1/2% CSC Holdings Senior
Notes Due April 2014 ("April 2014 Notes") in the tender offers commenced in September 2012 discussed
below, (ii) make a $150,000 prepayment on the then outstanding CSC Holdings Term B-2 extended loan
facility, and (iii) for general corporate purposes. In connection with the issuance of the 2022 Notes, the
Company incurred deferred financing costs of approximately $16,195, which are being amortized to
interest expense over the term of the 2022 Notes. See discussion below regarding the repurchase of a
portion of these notes in 2013.
CSC Holdings 6-3/4% Senior Notes Due 2021
In November 2011, CSC Holdings issued $1,000,000 aggregate principal amount of 6-3/4% senior notes
due November 15, 2021 (the "2021 Notes"). CSC Holdings used the net proceeds of this offering, along
with proceeds from the then existing Term A-4 extended loan facility, to repurchase portions of its 8-
1/2% senior notes due 2015, 6-3/4% senior notes due 2012 and 8-1/2% senior notes due 2014, and for
general corporate purposes. In connection with the issuance of the 2021 Notes, the Company incurred
deferred financing costs of $21,433, which are being amortized to interest expense over the term of the
notes.
Repurchases of Cablevision Senior Notes
During September, October and December 2013, Cablevision repurchased with cash on hand
approximately $63,945 aggregate principal amount of its outstanding 2022 Notes. In connection with
these repurchases, Cablevision recorded a gain from the extinguishment of debt of $1,119 and a write-off
of approximately $517 of unamortized deferred financing costs associated with these notes.
In January 2014, Cablevision repurchased with cash on hand an additional $27,831 aggregate principal
amount of the outstanding 2022 Notes. These notes repurchased in January 2014 have been reclassified
from long-term to current on Cablevision's balance sheet at December 31, 2013.
Redemptions and Repurchases of CSC Holdings Senior Notes (tender prices per note in dollars)
On August 26, 2013, CSC Holdings redeemed (1) $204,937 aggregate principal amount of its outstanding
April 2014 Notes and (2) $91,543 aggregate principal amount of its outstanding June 2015 Notes with
cash on hand. In connection with these redemptions, the Company recorded a loss on extinguishment of
debt of approximately $12,192, primarily representing the payments in excess of the principal amount
thereof and a write-off of the unamortized deferred financing costs and discounts associated with these
notes of approximately $4,350 for the year ended December 31, 2013.