STAMFORD, Conn., Dec. 9, 2024
/PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along
with its subsidiaries, "Charter") today announced that on
December 3, 2024, its subsidiary,
Charter Communications Operating, LLC ("CCO"), had entered into an
amendment (the "Amendment") to its existing Credit Agreement that
extends the maturity date of a significant portion of its debt due
in 2027 to maturity dates in 2030 and 2031.
After giving effect to the Amendment:
(i) the aggregate principal amount of CCO's
revolving credit facility increased by $960
million, with a pricing of SOFR plus 1.25%, comprised
of:
(a) an aggregate principal amount of existing
Revolving B Commitments (maturing on August
31, 2027) of $960 million,
and
(b) an aggregate principal amount of new
Revolving C Commitments (maturing on March
15, 2030) of $5.5
billion,
(ii) a portion of the existing Term A-5 Loans
were converted into new Term A-7 loans, with an aggregate principal
amount of Term A-7 Loans outstanding of approximately $4.5
billion and a pricing of SOFR plus 1.25% (maturing on March 15, 2030), and
(iii) a portion of the existing Term B-2 Loans
were converted into new Term B-5 Loans, with an aggregate principal
amount of Term B-5 Loans outstanding of $2.5
billion and a pricing of SOFR plus 2.25% (maturing on
December 15, 2031).
CCO used proceeds from the Amendment plus cash on hand to repay
all the remaining Term A-5 Loans and Term B-2 Loans not converted
to Term A-7 or Term B-5 Loans, respectively, in connection with the
Amendment, as well as to pay related fees and expenses.
About Charter
Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband
connectivity company and cable operator with services available to
more than 58 million homes and businesses 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
and sports programming to its customers through Spectrum Networks.
More information about Charter can be found at
corporate.charter.com.
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SOURCE Charter Communications, Inc.