Cablevision 2013 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2013 Cablevision annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 196

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196

(79)
The following table provides details of our outstanding credit facility debt:
Interest
Rate at
Amounts Payable
on or prior to
Carrying
Value at
Maturity
Date
December 31,
2013
December 31,
2014
December 31,
2013
December 31,
2012
Restricted Group:
Revolving loan
facility(a) ............... April 17, 2018 -
$ - $ - $ -
Term A loan facility .. April 17, 2018 2.17% 23,963 958,510 -
Term B loan facility .. April 17, 2020 2.67% 23,500 2,327,635 -
Extended revolving
loan facility ............ (b) -
- - -
Term A-3 extended
loan facility ............ (b) -
- - 333,908
Term A-4 extended
loan facility ............ (b) -
- - 600,000
Term B-2 extended
loan facility ............ (b) -
- - 697,807
Term B-3 extended
loan facility ............ (b) -
- - 1,632,286
Restricted Group credit facility debt................................... 47,463 3,286,145 3,264,001
Newsday:
Floating rate term
loan facility ............ October 12, 2016 3.67% - 480,000 650,000
Total credit facility debt........................................................ $47,463 $3,766,145 $3,914,001
___________________________
(a) At December 31, 2013, $72,109 of the revolving loan facility was restricted for certain letters of credit issued on
behalf of CSC Holdings and $1,427,891 of the revolving loan facility was undrawn and available, subject to
covenant limitations, to be drawn to meet the net funding and investment requirements of the Restricted Group.
(b) In April 2013, CSC Holdings entered into a new credit facility, the proceeds of which were used to repay its then
outstanding extended revolving loan, Term A-3, Term A-4, Term B-2 and Term B-3 loan facilities (see discussion
below).
Payment Obligations Related to Debt
Total amounts payable by us in connection with our outstanding obligations during the five years
subsequent to December 31, 2013 and thereafter, including related interest, as well as capital lease
obligations and the value deliverable at maturity under monetization contracts as of December 31, 2013
are as follows:
Cablevision
Restricted
Group Newsday
Other
Entities(a)
Total
2014 ................
.
$ 242,858 $ 322,286 $ 18,132
$285,953
$ 869,229
2015 ................
.
214,421 339,257 18,097
586,394
1,158,169
2016 ................
.
214,421 357,160 494,104
-
1,065,685
2017 ................
.
1,114,421 374,239 98
-
1,488,758
2018 ................
.
857,733 1,772,311 -
-
2,630,044 (b)
Thereafter ........
.
1,372,907 4,049,551 -
-
5,422,458 (b)
Total ................
.
$4,016,761 $7,214,804 $530,431
$872,347
$12,634,343
___________________________
(a) Represents the Company's obligations in connection with monetization contracts it has entered into. The Company has the
option, at maturity, to deliver the shares of common stock underlying the monetization contracts along with proceeds from the
related derivative contracts in full satisfaction of the maturing collateralized indebtedness or obtain the required cash
equivalent of the common stock through new monetization and derivative contracts.
(b) Excludes the $345,238 principal amount of Cablevision 7.75% senior notes due 2018 and $266,217 principal amount of
Cablevision 8.00% senior notes due 2020 held by Newsday Holdings LLC, which are pledged to the lenders under its credit
facility.