STAMFORD, Conn., June 2, 2022
/PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along
with its subsidiaries, "Charter") today announced that its
subsidiary, Charter Communications Operating, LLC ("CCO"), entered
into an amendment (the "Amendment") to CCO's Credit Agreement on
May 26, 2022 to: (i) convert all of
CCO's Term A-4 Loans to Term A-5 Loans, (ii) borrow $2.85 billion additional Term A-5 Loans and
extend the maturity of the Term A-5 Loans to August 31, 2027, (iii) create and borrow a new
tranche of $500 million of Term A-6
Loans maturing August 31, 2028, (iv)
increase the size of CCO's revolving credit facility, change the
interest rate benchmark from LIBOR to SOFR, and extend the maturity
date to August 31, 2027 and (v) make
certain other amendments to the Credit Agreement.
![Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.) Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.)](https://mma.prnewswire.com/media/76092/charter_communications_logo.jpg)
Charter used a portion of the proceeds from the Amendment to
repay all of the Term A-2 Loans, the Term A-4 Loans and all
Revolving Loans outstanding prior to the effective date of the
Amendment. After giving effect to the Amendment: (i) the aggregate
principal amount of Term A-5 Loans outstanding is $6.05 billion with a pricing of SOFR plus 1.25%,
(ii) the aggregate principal amount of Term A-6 Loans outstanding
is $500 million with a pricing of
SOFR plus 1.50% and (iii) the aggregate amount of the revolving
credit facility increased by $750
million to a total capacity of $5.5
billion with a pricing of SOFR plus 1.25%. The aggregate
principal amount of Term B-1 Loans (maturing April 30, 2025) and Term B-2 Loans (maturing
February 1, 2027) outstanding are
$2.4 billion and $3.7 billion, respectively, with LIBOR-based
pricing unchanged.
About Charter
Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband
connectivity company and cable operator serving more than 32
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.
For small and medium-sized companies, Spectrum
Business® delivers the same suite of broadband products
and services coupled with special features and applications to
enhance productivity, while for larger businesses and government
entities, Spectrum Enterprise provides highly customized,
fiber-based solutions. Spectrum Reach® delivers tailored
advertising and production for the modern media landscape. The
company also distributes award-winning news coverage, sports and
high-quality original programming to its customers through Spectrum
Networks and Spectrum Originals. More information about Charter can
be found at corporate.charter.com.
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SOURCE Charter Communications, Inc.