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CABLEVISION INDUSTRIES CORPORATION TO ISSUE $200 MILLION OF SENIOR DEBENTURES

 LIBERTY, N.Y., March 4 /PRNewswire/ -- Alan Gerry, chairman & chief executive officer of Cablevision Industries Corporation ("CVI"), announced the issuance of $200 million of senior debentures under Rule 144A. The debentures will be issued at par and will pay a cash coupon of 9.25 percent with a final maturity of April 1, 2008. CVI is obligated to register the debentures with the Securities and Exchange Commission. Until the debentures are registered with the SEC, CVI will pay a 50 basis point premium on the interest rate. The new senior debentures will rank pari passu with the company's 10.75 percent senior notes due 2002. The debentures will be non-callable for seven years and callable thereafter at a premium. Interest will be payable semi- annually beginning April 1, 1993. Morgan Stanley acted as sole placement agent for this issue.
 CVI is one of the largest privately owned companies in the cable television industry. CVI and its affiliates currently operate cable television systems in 18 states serving approximately 1.2 million basic subscribers, ranking CVI as the nation's ninth largest independent cable operator.
 -0- 03/04/93
 /CONTACT: Rocco B. Commisso, executive vice president and chief financial officer of Cablevision Industries Corporation, 914-295-2750/


CO: Cablevision Industries Corporation ST: New York IN: ENT SU: OFR

AH -- NY092 -- 8220 03/04/93 15:21 EST
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Publication:PR Newswire
Date:Mar 4, 1993
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