Business Context and Reporting Period
This Form 8-K is a current report filed by Altice USA, Inc. on February 19, 2019. The filing discloses a specific corporate event regarding the redemption of senior notes by its subsidiary, CSC Holdings, LLC.
Key Financial Metrics
- Debt Redemption: $894.7 million aggregate principal amount of 10.125% senior notes due 2023.
- Redemption Price: 107.594% of the aggregate principal amount.
- Interest: Plus accrued and unpaid interest to, but not including, the redemption date.
- Outstanding Balance: The redemption represented the entire aggregate principal amount of the 2023 Notes outstanding.
The filing text does not provide clear values for revenue, profit, cash flow, margins, or overall liquidity metrics beyond the specific transaction details.
Material Changes
The primary material change is the complete elimination of the 2023 Notes debt obligation. The company paid a premium over par value (107.594%) to retire the debt ahead of its 2023 maturity date.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or specific risk factors beyond the execution of the redemption. The event is classified under Item 8.01 (Other Events).
Investor Verification Checklist
- Verify the total cash outflow required for the redemption, including the premium and accrued interest.
- Confirm the impact of this debt retirement on the company's overall leverage ratios and interest expense.
- Review the source of funds used to finance the $894.7 million principal plus premium payment.
- Check for any remaining debt obligations with similar maturity profiles or interest rates.