Credit Suisse and Goldman Sachs lead financings for Altice USA’s combination of its Suddenlink and Optimum Businesses Under Single Credit Silo

November 02, 2018

London & New York - Paul Hastings LLP, a leading global law firm, has advised Credit Suisse and Goldman Sachs as joint dealer managers and solicitation agents in connection with the exchange offers and consent solicitations by Altice US Finance I Corporation, Cequel Communications Holdings I, LLC and Cequel Capital Corporation (the “Issuers”), which expired on 30 October 2018. Over $5.5 billion of notes have now been exchanged for new notes issued by the Issuers. The new notes will automatically convert into new senior guaranteed and senior notes issued by CSC Holdings, LLC upon satisfaction of certain conditions, including the consummation of the combination of the Suddenlink (Cequel) and Optimum (Cablevision) business silos of Altice USA.

Paul Hastings also represented Goldman Sachs and Credit Suisse as joint lead arrangers and bookrunners in connection with the $1.275 billion incremental term loan of CSC Holdings, LLC which is expected to refinance the existing term loans of Altice US Finance I Corporation upon consummation of the combination.

The Paul Hastings team was led by partners Peter Schwartz and Ed Holmes in London and Randal Palach in New York, with associates Carlos Ruiz, Andres Loera, Andro Atlaga and Ludo Giannotti assisting.

The combination will mark a significant milestone in the integration of the Suddenlink and Optimum businesses and align Altice USA’s debt capital structure.

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