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:
- $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.
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
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, the potential
offering. 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," 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.