Charter Offers Senior Secured Notes
On May 18, 2021, Charter Communications (NASDAQ: CHTR) announced plans to offer Senior Secured Notes due 2052 and 2061. The 2052 Notes will be part of a previously issued series totaling $1 billion at a 3.900% interest rate. Proceeds from the notes will fund share buybacks, repay debt, and cover related expenses. The offering is subject to market conditions and will comply with an effective automatic shelf registration statement filed with the SEC. Deutsche Bank, Mizuho, and Morgan Stanley will manage the offering.
- Planned offering of Senior Secured Notes may strengthen financial position.
- Proceeds intended for share buybacks, which could enhance shareholder value.
- Notes issuance may increase overall debt levels.
- Market conditions may affect the success of the offering.
STAMFORD, Conn., May 18, 2021 /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., intend to offer the following securities:
- Senior Secured Notes due 2052 (the "2052 Notes"). The 2052 Notes will form a part of the same series of
3.900% Senior Secured Notes issued on March 4, 2021 in the aggregate principal amount of$1.0 billion , and, - Senior Secured Notes due 2061 (the "2061 Notes," and together with the 2052 Notes, the "Notes").
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 Communications Holdings, LLC, to repay certain indebtedness and to pay related fees and expenses.
The offering and sale of the Notes will be made pursuant to an effective automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the "SEC"). The offering is subject to, among other things, market conditions.
Deutsche Bank Securities Inc., Mizuho Securities USA LLC and Morgan Stanley & Co LLC will act as Joint Book-Running Managers for the senior secured notes offering. The offering will be made only by means of a prospectus supplement dated May 13, 2021 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 Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005; Telephone: (800) 503-4611; E-mail: prospectus.CPDG@db.com, or by contacting Mizuho Securities USA LLC, Attention: Debt Capital Markets, 1271 Avenue of the Americas, New York, NY 10022, Telephone: (866) 271-7403, 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 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.
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.
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SOURCE Charter Communications, Inc.
FAQ
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