Altice USA Subsidiary Lightpath Seeks to Sell Fiber Network ABS

Cablevision Lightpath LLC, a fiber optic communications services provider that is majority controlled by Altice USA Inc., is looking to sell as much as $2.8 billion of asset-backed securities.

The securities would be backed by fiber networks, including conduit and fiber optic cables as well as customer agreements, according to a filing before the New York Public Service Commission dated July 3. The company has $7.2 billion of debt coming due in 2027, and $5.4 billion a year later.

Altice USA’s stock rose 16% Tuesday. Earlier this year, the company was in talks with its creditors to restructure ...