Charter Prices $1.5 Billion Senior Unsecured Notes
STAMFORD, Conn., Oct. 10, 2017 /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 $1.5 billion in aggregate principal amount of notes consisting of the following securities:
- $500 million in aggregate principal amount of senior unsecured notes due 2023 (the "2023 Notes"). These notes will bear interest at a rate of 4.000% per annum and will be issued at a price of 100.000% of the aggregate principal amount.
- $1.0 billion in aggregate principal amount of senior unsecured notes due 2028 (the "2028 Notes", and together with the 2023 Notes, the "Notes"). The 2028 Notes will bear interest at a rate of 5.000% per annum and will be issued at a price of 98.500% of the aggregate principal amount. The 2028 Notes will form a part of the same series as the Issuers' 5.000% Senior Unsecured Notes due 2028 issued on August 8, 2017.
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 October 17, 2017, subject to customary closing conditions.
The Notes will be sold to qualified insitutional 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.
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.
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