DOW JONES NEWSWIRES 
 

A Cablevision Systems Corp. (CVC) unit again boosted the size of its planned debt buyback, increasing it another $75 million to $975 million.

Cablevision early this month intially announced plans to sell $500 million in notes to repurchase stock from unit CSC Holdings Inc. The unit, in turn, intended to use the proceeds and cash on hand to repay or repurchase $500 million of notes maturing by 2012. Both figures were raised to $900 million a day later as demand for Cablevision's debt was much greater than expected.

On Wednesday, CSC Holdings boosted the offer again and as a result extended the early tender deadline. Including that $30 premium per $1,000 of notes, the unit is offering $1,050 for each $1,000 of principal in 7.625% notes due 2011 and $1,046.25 for $1,000 principal in 6.75% notes due 2012. The early tender deadline was extended one day to 5 p.m. EDT Wednesday.

As of the initial deadline, $670 million of the 2011 notes and $292.9 million of the 2012 notes were tendered. There are $1 billion and $500 million, respectively, of the notes outstanding.

In July, Fitch Ratings follwed in the steps of Moody's by boosting Cablevision closer to investment-grade territory, saying its debt levels and earnings were improving.

Later that month, Cablevision said it would spin off its Madison Square Garden and related assets - like the New York Knicks and Rangers sports teams - so it could return focus to its core operations.

Shares closed Tuesday at $25.07 and were inactive premarket.

-By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354; kevin.kingsbury@dowjones.com