STAMFORD, Conn., June 28, 2018 /PRNewswire/ -- Charter
Communications, Inc. (NASDAQ: CHTR) (along with its
subsidiaries, "Charter") today announced that its subsidiaries,
Charter Communications Operating, LLC ("CCO") and Charter
Communications Operating Capital Corp., have priced $1.5 billion in aggregate principal amount of
notes consisting of the following securities (collectively, the
"Notes"):
- $1.1 billion in aggregate
principal amount of senior secured fixed rate notes due 2024 (the
"Fixed Rate Notes"). The Fixed Rate Notes will bear interest at a
rate of 4.500% per annum and will be issued at a price of 99.893%
of the aggregate principal amount.
- $400 million in aggregate
principal amount of senior secured floating rate notes due 2024
(the "Floating Rate Notes"). The Floating Rate Notes will bear
interest at a rate of three-month LIBOR, reset quarterly, plus 165
basis points 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 for general corporate purposes, including to fund potential
buybacks of Class A common stock of Charter or common units of
Charter Holdings. Charter expects to close the offering of the
Notes on July 3, 2018, subject to
customary closing conditions.
The offering and sale of the Notes were made pursuant to an
effective automatic shelf registration statement on Form S-3 filed
with the Securities and Exchange Commission (the
"SEC").
Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC
were Joint Book-Running Managers for the offering. The offering was
made only by means of a prospectus supplement dated June 28, 2018 and the accompanying base
prospectus, copies of which, when available, may be obtained on the
SEC's website at www.sec.gov or by contacting Citigroup Global
Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717;
Telephone: (800) 831-9146; E-mail: prospectus@citi.com, or by
contacting Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014; E-mail:
prospectus@morganstanley.com.
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 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®, and
Spectrum Voice®. 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, our plans,
strategies and prospects, both business and financial.
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," "estimated," "aim," "on track," "target,"
"opportunity," "tentative," "positioning," "designed," "create,"
"predict," "project," "initiatives," "seek," "would," "could,"
"continue," "ongoing," "upside," "increases" 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.