STAMFORD, Conn., Dec. 2, 2019 /PRNewswire/ -- Charter
Communications, Inc. (NASDAQ: CHTR) (along with its
subsidiaries, "Charter") today announced that its subsidiaries,
Charter Communications Operating, LLC and Charter Communications
Operating Capital Corp. (collectively, the "Issuers"), have priced
$1.3 billion in aggregate principal
amount of senior secured notes due 2050 (the "Notes"). The Notes
will form a part of the same series as the Issuers' senior secured
notes due 2050 issued on October 24,
2019, which bear interest at a rate of 4.800% per annum. The
Notes will be issued at a price of 101.964% 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 to fund potential buybacks of Class A common
stock of Charter or common units of Charter Communications
Holdings, LLC, as well as repaying certain indebtedness, which may
include all or a portion of the Issuers' 3.579% senior secured
notes due 2020. Charter expects to close the offering of the Notes
on December 16, 2019, subject to
customary closing conditions.
The offering and sale of the Notes were made pursuant to an
effective automatic shelf registration statement on Form S-3 filed
with the Securities and Exchange Commission (the
"SEC").
Deutsche Bank Securities Inc., Mizuho Securities USA LLC and Morgan Stanley & Co. LLC were
Joint Book-Running Managers for the senior secured notes offering.
The offering was made only by means of a prospectus supplement
dated December 2, 2019 and the
accompanying base prospectus, copies of which, when available, may
be obtained on the SEC's website at www.sec.gov or by
contacting Deutsche Bank Securities Inc., Attention: Prospectus
Group, 60 Wall Street, New York,
NY 10005; Telephone: (800) 503-4611; E-mail:
prospectus.CPDG@db.com, or by contacting Mizuho Securities
USA LLC, Attention: Debt Capital
Markets, 320 Park Avenue, 12th Floor, New
York, NY 10022, Telephone: (866) 271-7403, or by contacting
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York,
NY 10014; E-mail: prospectus@morganstanley.com.
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, nor is it an offer to purchase, or the
solicitation of an offer to sell the Notes in any jurisdiction in
which such offer, solicitation, or sale is unlawful.
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®, Spectrum
Voice®, and Spectrum Mobile™. 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This communication includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended, regarding, among other things, our plans,
strategies and prospects, both business and financial.
Although we believe that our plans, intentions and expectations as
reflected in or suggested by these forward-looking statements are
reasonable, we cannot assure you that we will achieve or realize
these plans, intentions or expectations. Forward-looking
statements are inherently subject to risks, uncertainties and
assumptions including, without limitation, the factors described
under "Risk Factors" from time to time in our filings with the
SEC. Many of the forward-looking statements contained in this
communication may be identified by the use of forward-looking words
such as "believe," "expect," "anticipate," "should," "planned,"
"will," "may," "intend," "estimated," "aim," "on track," "target,"
"opportunity," "tentative," "positioning," "designed," "create,"
"predict," "project," "initiatives," "seek," "would," "could,"
"continue," "ongoing," "upside," "increases" and "potential," among
others.
All forward-looking statements attributable to us or any person
acting on our behalf are expressly qualified in their entirety by
this cautionary statement. We are under no duty or obligation
to update any of the forward-looking statements after the date of
this communication.
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SOURCE Charter Communications, Inc.