Altice Borrows $2.1 Billion in Boosted Junk-Bond Offering

Altice USA sold a $2.05 billion junk bond Thursday to help refinance a term loan due next year, increasing the size of the offering and getting more favorable terms than it expected.

The cable television provider’s new 2029 bond, issued by its CSC Holdings unit, comes with a coupon of 11.75%, tighter than the low-12% yield that was initially discussed. The deal was upsized from $1.25 billion, with Goldman Sachs Group Inc. leading the transaction, according to people familiar with the deal who asked not to be identified because the information is private.

Representatives for Altice USA and Goldman Sachs ...