Cablevision 2014 Annual Report Download - page 127

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except share and per share amounts)
F-38
Senior Notes and Debentures
The following table summarizes the Company's senior notes and debentures:
Date Maturity Interest Issue Carrying Amount at December 31,
Issuer Issued Date Rate Amount 2014 2013
CSC Holdings (a)(c) ... February 6, 1998 February 15, 2018 7.875% 300,000 $ 299,464 $ 299,293
CSC Holdings (a)(c) ... July 21, 1998 July 15, 2018 7.625% 500,000 499,912 499,887
CSC Holdings (b)(c)... February 12, 2009 February 15, 2019 8.625% 526,000 512,750 510,223
CSC Holdings (b) ....... November 15, 2011 November 15, 2021 6.750% 1,000,000 1,000,000 1,000,000
CSC Holdings (b) ....... May 23, 2014 June 1, 2024 5.250% 750,000 750,000 —
3,062,126 2,309,403
Cablevision (b)(c)....... September 23, 2009 September 15, 2017 8.625% 900,000 894,717 893,057
Cablevision (b)............ April 15, 2010 April 15, 2018 7.750% 750,000 750,000 750,000
Cablevision (b)............ April 15, 2010 April 15, 2020 8.000% 500,000 500,000 500,000
Cablevision (b)............ September 27, 2012 September 15, 2022 5.875% 750,000 649,024 686,055
$ 5,855,867 $ 5,138,515
(a) The debentures are not redeemable by the Company prior to maturity.
(b) The Company may redeem some or all of the notes at any time at a specified "make-whole" price plus accrued and unpaid
interest to the redemption date.
(c) The carrying amount of the senior notes is net of the unamortized original issue discount.
The table above also excludes the principal amount of Cablevision 7.75% senior notes due 2018 of $345,238 and the principal
amount of Cablevision 8.00% senior notes due 2020 of $266,217 held by Newsday at December 31, 2014 and 2013 which are
eliminated in the consolidated balance sheets of Cablevision.
The indentures under which the senior notes and debentures were issued contain various covenants, which are generally less
restrictive than those contained in the credit agreement of the issuer. The Company was in compliance with all of its financial
covenants under these indentures as of December 31, 2014.
Issuance of Debt Securities
CSC Holdings 5.25% Senior Notes Due 2024
In May 2014, CSC Holdings issued $750,000 aggregate principal amount of 5.25% senior notes due June 1, 2024 (the "2024
Notes"). The 2024 Notes are senior unsecured obligations and rank equally in right of payment with all of CSC Holdings' other
existing and future unsecured and unsubordinated indebtedness. CSC Holdings may redeem all or a portion of the 2024 Notes at
any time at a price equal to 100% of the principal amount of the 2024 Notes redeemed plus accrued and unpaid interest to the
redemption date plus a "make whole" premium. CSC Holdings used the net proceeds from the issuance of the 2024 Notes, as well
as cash on hand, to make a $750,000 repayment on its outstanding Term B loan facility. In connection with the issuance of the
2024 Notes, the Company incurred deferred financing costs of approximately $14,273, which are being amortized to interest
expense over the term of the 2024 Notes.
Cablevision 5.875% Senior Notes Due 2022
In September 2012, Cablevision issued $750,000 aggregate principal amount of 5.875% 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