Charter Closes $2.0 Billion Senior Unsecured Notes

Rhea-AI Summary

Charter Communications (NASDAQ: CHTR) announced the closing of $2.0 billion in senior unsecured notes due 2034, with a 4.250% interest rate. The notes were issued at 100% of the principal amount and sold to qualified institutional buyers under Rule 144A as well as to non-U.S. persons under Regulation S. The issuance is not registered under the Securities Act of 1933, hence it's subject to specific exemptions for offers and sales in the U.S. Charter provides broadband and cable services to over 31 million customers across 41 states through its Spectrum brand.

Positive

• Successful issuance of $2.0 billion in senior unsecured notes.
• Interest rate fixed at 4.250%, potentially favorable for refinancing.

Negative

• Notes not registered under the Securities Act, limiting investor options.
• Potential risks associated with non-U.S. sale under Regulation S.

STAMFORD, Conn., Aug. 16, 2021 /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 $2.0 billion in aggregate principal amount of senior unsecured notes due 2034 (the "Notes"). The Notes bear interest at a rate of 4.250% 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 31 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 senior unsecured notes closed by Charter Communications on August 16, 2021?

Charter Communications closed $2.0 billion in senior unsecured notes due 2034.

What is the interest rate of the senior unsecured notes issued by Charter?

The senior unsecured notes bear an interest rate of 4.250% per annum.

Under which regulations were the notes sold?

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

How many customers does Charter serve and in how many states?

Charter serves over 31 million customers in 41 states.

Which brand does Charter operate under?

Charter operates under the Spectrum brand.