Charter Closes $1.5 Billion Senior Unsecured Notes

Rhea-AI Summary

On August 9, 2022, Charter Communications announced the closure of $1.5 billion in senior unsecured notes due in 2029. These notes bear an interest rate of 6.375% per annum and were sold at face value to qualified institutional buyers under Rule 144A and Regulation S. They are not registered under the Securities Act of 1933 and cannot be sold in the U.S. without appropriate registration or exemptions. This issuance aims to support Charter's financial strategies.

Positive

• Successfully closed $1.5 billion in senior unsecured notes.
• Interest rate set at 6.375%, providing favorable financing terms.

Negative

• Notes not registered under the Securities Act, limiting future sale options.
• Potential risk of increased debt levels affecting financial flexibility.

STAMFORD, Conn., Aug. 9, 2022 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., have closed on $1.5 billion in aggregate principal amount of senior unsecured notes due 2029 (the "Notes"). The Notes bear interest at a rate of 6.375% per annum and were issued at a price of 100.000% of the aggregate principal amount.

The Notes were sold to qualified institutional 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.

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 in any jurisdiction in which such offer, solicitation, or sale is unlawful.

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.

FAQ

What is the amount of the senior unsecured notes issued by Charter Communications?

Charter Communications issued $1.5 billion in senior unsecured notes.

What is the interest rate on the senior unsecured notes issued by CHTR?

The interest rate on the senior unsecured notes is 6.375% per annum.

What is the maturity date for the newly issued notes by Charter Communications?

The notes are due in 2029.

Under which regulations were the notes sold by Charter Communications?

The notes were sold under Rule 144A and Regulation S.

Are the senior unsecured notes from CHTR registered under the Securities Act?

No, the notes are not registered under the Securities Act of 1933.