STAMFORD, Conn., Sept. 11, 2017 /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
$2.0 billion in aggregate principal
amount of notes consisting of the following securities:
- $1.25 billion in aggregate
principal amount of senior secured notes due March 2028 (the "2028 Notes"). These notes will
bear interest at a rate of 4.200% per annum and will be issued at a
price of 99.757% of the aggregate principal amount.
- $750 million in aggregate
principal amount of senior secured notes due 2047 (the "2047
Notes," and together with the 2028 Notes, the "Notes"). The 2047
Notes will bear interest at a rate of 5.375% per annum and will be
issued at a price of 98.969% of the aggregate principal amount. The
2047 Notes will form a part of the same series as the Issuers'
5.375% Senior Secured Notes due 2047 issued on April 20, 2017, and issued in the follow-on
offering on July 6, 2017.
The Notes will result in proceeds of approximately $2.0 billion after deducting underwriting
discounts, commissions and new issue discount.
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 buybacks of the Class A common stock
of Charter or common units of Charter Communications Holdings, LLC.
Charter expects to close the offering of the Notes on September 18, 2017, 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, 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 (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 broadband services, including Spectrum TV™ video
entertainment programming, Spectrum Internet™ access, and Spectrum
Voice™. Spectrum Business™ similarly provides scalable, tailored,
and cost-effective broadband communications solutions to business
organizations, such as business-to-business Internet access, data
networking, business telephone, video and music entertainment
services, and wireless backhaul. Charter's advertising sales and
production services are sold under the Spectrum Reach™ brand. More
information about Charter can be found at www.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.