- Charter Communications Inc (NASDAQ: CHTR) announced that its subsidiaries have priced $1.5 billion in aggregate principal amount of senior unsecured notes due 2031
Charter Communications Inc (NASDAQ: CHTR) announced that its subsidiaries CCO Holdings, LLC and CCO Holdings Capital Corp. have priced $1.5 billion in aggregate principal amount of senior unsecured notes due 2031. The notes will bear interest at a rate of 4.250% per annum and will be issued at a price of 100% of the aggregate principal amount.
The issuers are intending to use the net proceeds from the sale of the notes for general corporate purposes, including to repay certain indebtedness under the Issuers’ existing senior notes (including to potentially partially redeem the Issuers’ 5.875% senior notes due 2024) and to fund potential buybacks of Class A common stock of Charter or common units of Charter Communications Holdings, LLC and to pay related fees and expenses. And Charter expects to close the offering of the notes on July 9, 2020 subject to customary closing conditions.
Charter Communications, Inc. (NASDAQ:CHTR) is known as a leading broadband connectivity company and cable operator serving over 29 million customers in 41 states through its Spectrum brand. And over an advanced communications network, the company offers a residential and business services including Spectrum Internet, TV, Mobile, and Voice.
For SMBs, 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. And Spectrum Reach delivers tailored advertising and production for the modern media landscape. Plus the company also distributes award-winning news coverage, sports, and high-quality original programming to its customers through Spectrum Networks and Spectrum Originals.
As of March 31, Charter had about $79.1 billion of debt outstanding, including $54.6 billion of senior secured debt according to Fitch Ratings.
