Charter Prices $1.5 Billion Senior Secured Notes

6/29/18

Charter Communications, Inc. (NASDAQ: CHTR) today announced that its subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp., have priced $1.5 billion in aggregate principal amount of notes consisting of the following securities (collectively, the "Notes"):

  • $1.1 billion in aggregate principal amount of senior secured fixed rate notes due 2024 (the "Fixed Rate Notes"). The Fixed Rate Notes will bear interest at a rate of 4.500% per annum and will be issued at a price of 99.893% of the aggregate principal amount.
  • $400 million in aggregate principal amount of senior secured floating rate notes due 2024 (the "Floating Rate Notes"). The Floating Rate Notes will bear interest at a rate of three-month LIBOR, reset quarterly, plus 165 basis points 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 for general corporate purposes, including to fund potential buybacks of Class A common stock of Charter or common units of Charter Holdings. Charter expects to close the offering of the Notes on July 3, 2018, subject to customary closing conditions.

About Charter 

Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband communications company and the second largest cable operator in the United States. Charter provides a full range of advanced residential broadband services, including Spectrum TV® programming, Spectrum Internet®, and Spectrum Voice®. Under the Spectrum Business® brand, Charter provides scalable, and cost-effective broadband communications solutions to small and medium-sized business organizations, including Internet access, business telephone, and TV services. Through the Spectrum Enterprise brand, Charter is a national provider of scalable, fiber-based technology solutions serving many of America's largest businesses and communications service providers. Charter's advertising sales and production services are sold under the Spectrum Reach® brand. Charter's news and sports networks are operated under the Spectrum Networks brand. More information about Charter can be found at newsroom.charter.com.