Charter Prices $500 Million Senior Secured Notes
STAMFORD, Conn., Aug. 9, 2018 /PRNewswire/ --Charter Communications, Inc. (NASDAQ: CHTR) (alongwith its subsidiaries, "Charter") today announced that its subsidiaries, Charter Communications Operating, LLC ("CCO") and Charter Communications Operating Capital Corp. (together with CCO, the "Issuers"), have priced $500 million in aggregate principal amount of senior secured floating rate notes due 2024 (the "Floating Rate Notes")which will be issued at a price of 101.479% of the aggregate principal amount.
- STAMFORD, Conn., Aug. 9, 2018 /PRNewswire/ --Charter Communications, Inc. (NASDAQ: CHTR) (alongwith its subsidiaries, "Charter") today announced that its subsidiaries, Charter Communications Operating, LLC ("CCO") and Charter Communications Operating Capital Corp. (together with CCO, the "Issuers"), have priced $500 million in aggregate principal amount of senior secured floating rate notes due 2024 (the "Floating Rate Notes")which will be issued at a price of 101.479% of the aggregate principal amount.
- The Floating Rate Notes will form a part of the same series as the Issuers' senior secured floating rate notes due 2024 issued July 3, 2018, and which bear interest at a rate of three-month LIBOR, reset quarterly, plus 165 basis points.
- Charter intends to use the net proceeds from the sale of the Floating Rate Notes for general corporate purposes, including to fund potential buybacks of Class A common stock of Charter or common units of Charter Communications Holdings, LLC and to repay certain indebtedness, including outstanding revolver balances.
- Charter expects to close the offering of the Floating Rate Notes on August 15, 2018, subject to customary closing conditions.