Cablevision Systems Corporation announces debt and equity offerings.WOODBURY, N.Y.--(BUSINESS WIRE)--Oct. 24,, 1995--Cablevision Systems Corporation (CVC See CSC. : ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. ) today announced that it will conduct a public offering of $300 million of its Series I Cumulative Convertible Exchangeable Preferred Stock Convertible exchangeable preferred stock Convertible preferred stock that may be exchanged, at the issuer's option, into convertible bonds that have the same conversion features as the convertible preferred stock. and $250 million principal amount of its Senior Subordinated Notes due 2005. The proceeds from these two offerings will be used to reduce existing bank debt and for general corporate purposes. Bear, Stearns & Co. Inc. will be the lead manager and Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. and Morgan Stanley & Co. Incorporated will be co-managers of the Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. offering. Merrill Lynch & Co. will be the lead manager and Bear, Stearns & Co. Inc., Morgan Stanley & Co. Incorporated and Toronto-Dominion Securities (USA) Inc. will be the co-managers of the Note offering. The Preferred Stock and the Notes are being offering under the Company's Registration Statement on Form S-3, declared effective on October 18, 1995. Copies of the Prospectus and the Prospectus Supplement for the Preferred Stock may be obtained from Bear, Stearns & Co. Inc., 245 Park Avenue, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10167 (212-272-2000). Copies of the Prospectus and the Prospectus Supplement for the Notes may be obtained from Merrill Lynch & Co., World Financial Center, North Tower - 30th Floor, 250 Vesey Street, New York, NY, 10281-1201, (212-449-1000) Cablevision Systems Corporation is the nation's sixth largest operator of cable television systems, serving 2.6 million customers in 19 states, with major operations in Boston, Cleveland and the New York Metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. , where Cablevision has 1.4 million customers. Rainbow Programming Holdings Inc., a subsidiary of Cablevision Systems, manages the operations of Rainbow Advertising Sales as well as Rainbow Network Communications, American Movie Classics, Bravo The Independent Film Channel, MuchMusic, Prime Network, NewSport, the SportsChannel Regional Network and News 12 Long Island, Connecticut and New Jersey. CONTACT: Cablevision Systems Corporation, Woodbury Charles Schueler, 516/496-1399 |
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