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Charter Prices $2.5 Billion Senior Unsecured Notes
STAMFORD, Conn., March 4, 2020 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, "Charter") today announced that its
About this update from Charter Communications, Inc.
[{"type":"text","content":"STAMFORD, Conn., March 4, 2020 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, \"Charter\") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. (collectively, the \"Issuers\"), have priced $2.5 billion in aggregate principal amount of notes consisting of the following securities: \n\n \n \n \n \n \n \n\n \n$1.1 billion in aggregate principal amount of senior unsecured notes due 2030 (the \"2030 Notes\"). The 2030 Notes will form a part of the same series as the Issuers' senior unsecured notes due 2030 issued on February 18, 2020, which bear interest at a rate of 4.500% per annum. The 2030 Notes will be issued at a price of 102.500% of the aggregate principal amount. $1.4 billion in aggregate principal amount of senior unsecured notes due 2032 (the \"2032 Notes,\" and together with the 2030 Notes, the \"Notes\"). The 2032 Notes were offered subsequent to the offering of the 2030 Notes and will bear interest at a rate of 4.500% per annum and will be issued at a price of 100.000% of the aggregate principal amount.Charter intends to use the net proceeds from the sale of the Notes to pay related fees and expenses and for general corporate purposes, including repaying certain indebtedness of the Issuers, including to potentially refinance the Issuers' existing 5.250% senior notes due 2022 and 5.125% senior notes due 2023, as well as to fund potential buybacks of Class A common stock of Charter or common units of Charter Communications Holdings, LLC. Charter expects to close the offering of the Notes on March 18, 2020, subject to customary closing conditions.\nThe Notes were sold to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in reliance on Regulation S. The Notes have not been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The offering is subject to, among other things, market conditions.\nThis news release is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not cons...