V&E Advises Underwriters on Bank and Bond Financing by Cablevision Lightpath LLC, a Subsidiary of Altice USA, Inc.
Vinson & Elkins served as underwriters’ counsel in connection with the debut Rule 144A/Regulation S offering of $450 million aggregate principal amount of 3.875% senior secured notes due 2027 and $415 million aggregate principal amount of 5.625% senior notes due 2028 by Cablevision Lightpath LLC, a Delaware limited liability company (the “Company”), a subsidiary company of Altice USA, Inc. a Delaware Corporation.
V&E also represented the joint bookrunners and joint lead arrangers under the Company’s senior secured credit facilities in an aggregate principal amount of $700 million, comprised of a $100 million senior secured revolving credit facility and a $600 million senior secured term loan facility.
Cablevision Lightpath, LLC provides advanced fiber, Ethernet, data transport, IP-based virtual private networks, Internet access, Managed Services, telephony services, including session-initiated protocol trunking, and VoIP services to the business market in the New York metropolitan area. The Company’s customers include companies in the health care, financial, education, legal and professional services, and other industries, as well as the public sector and communication providers, incumbent local exchange carriers, and competitive local exchange carriers.
The V&E team was led by partners Noel Hughes and David Wicklund with assistance from partner Federico Fruhbeck, counsel Christianne Williams, senior associates Maya Bobbitt and Matthew Lowe and associates Caitlin Snelson, Erin Brown, Anu Akinbamidele and Ashkan Fakhimi. Partner Wendy Salinas and associate Liz Snyder provided tax advice. Partner David D’Alessandro and senior associate Heather Reynolds Johnson provided ERISA advice.
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