Cablevision Prices Notes

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Cablevision Systems Corp. subsidiary CSC Holdings priced $1 billion in senior notes Wednesday, proceeds of which will be used in part, along with a $4.5 billion loan package, to issue a $3 billion dividend to shareholders of the cable company.

Cablevision said it may also use some of the proceeds to refinance an existing revolving-credit facility.

The 10-year noncallable bonds were priced at 389 basis points over Treasuries and have a yield of 8.375%.