Charter Communications, Inc. (NASDAQ: CHTR) today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., have priced $1.5 billion in aggregate principal amount of senior unsecured notes due 2031. The Notes will bear interest at a rate of 4.250% per annum and will be issued at a price of 100.000% of the aggregate principal amount.
The Issuers intend to use the net proceeds from the sale of the Notes for general corporate purposes, including to repay certain indebtedness under the Issuers' existing senior notes (including to potentially partially redeem the Issuers' 5.875% senior notes due 2024), and to fund potential buybacks of Class A common stock of Charter or common units of Charter Communications Holdings, LLC and to pay related fees and expenses. Charter expects to close the offering of the Notes on July 9, 2020, subject to customary closing conditions.
The 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.
This news release is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.
About Charter
Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 29 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice.
For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The company also distributes award-winning news coverage, sports and high-quality original programming to its customers through Spectrum Networks and Spectrum Originals. More information about Charter can be found at corporate.charter.com.
