Charter Prices $3.0 Billion Senior Secured Notes

11/19/20

Charter Communications, Inc. (NASDAQ: CHTR) today announced that its subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. (collectively, the "Issuers"), have priced $3.0 billion in aggregate principal amount of notes consisting of the following securities:

  • $1.0 billion in aggregate principal amount of senior secured notes due 2032 (the "2032 Notes"). The 2032 Notes will bear interest at a rate of 2.300% per annum and will be issued at a price of 99.786% of the aggregate principal amount.
  • $650 million in aggregate principal amount of senior secured notes due 2051 (the "2051 Notes"). The 2051 Notes will form a part of the same series as the Issuers' senior secured notes due 2051 issued on April 17, 2020, which bear interest at a rate of 3.700% per annum. The 2051 Notes will be issued at a price of 100.791% of the aggregate principal amount.
  • $1.35 billion in aggregate principal amount of senior secured notes due 2061 (the "2061 Notes," and together with the 2032 Notes and 2051 Notes, the "Notes"). The 2061 Notes will bear interest at a rate of 3.850% per annum and will be issued at a price of 99.882% of the aggregate principal amount.

Charter intends to use the net proceeds from the sale of the 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, to repay certain indebtedness and to pay related fees and expenses. Charter expects to close the offering of the Notes on December 4, 2020, subject to customary closing conditions.

About Charter 

Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 30 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.

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