OPTU · Optimum Communications, Inc.

Summary

Optimum Communications, Inc. disclosed that its indirect subsidiary Lightpath Fiber Issuer LLC completed a $1,657.0 million securitization financing on March 3, 2026, issuing Secured Fiber Network Revenue Notes, Series 2026-1, secured by fiber network assets in multiple U.S. metro areas. Proceeds were used to repay $1,553.3 million of existing senior notes and term loan, with remaining funds for general corporate purposes.

Key takeaways

• Lightpath Fiber Issuer LLC issued $1,657.0 million Secured Fiber Network Revenue Notes, Series 2026-1 on March 3, 2026
• $1,527.0 million Class A-2 Notes at 5.597% interest; $130.0 million Class B Notes at 5.890% interest
• Notes secured by fiber network assets and customer contracts in New York City, Boston, New Jersey, Connecticut, Pennsylvania, Virginia
• Anticipated Repayment Date March 25, 2031; legal final maturity March 2056
• Net proceeds repaid $1,553.3 million of 5.625% senior notes due 2028, 3.875% senior secured notes due 2027, and term loan facility
• Issuer is bankruptcy-remote indirect subsidiary of Cablevision Lightpath LLC, majority-owned by Optimum Communications, Inc.