STAMFORD, Conn., Nov. 7, 2023
/PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR)
(along with its subsidiaries, "Charter") today announced that
its subsidiaries, Charter Communications Operating, LLC and Charter
Communications Operating Capital Corp. (collectively, the
"Issuers"), have priced $2.0 billion
in aggregate principal amount of notes consisting of the following
securities:
- $1.1 billion in aggregate
principal amount of Senior Secured Notes due 2026 (the "2026
Notes"). The 2026 Notes will bear interest at a rate of 6.150% per
annum and will be issued at a price of 99.911% of the aggregate
principal amount.
- $900 million in aggregate
principal amount of Senior Secured Notes due 2034 (the "2034 Notes"
and, together with the 2026 Notes, the "Notes"). The 2034 Notes
will bear interest at a rate of 6.650% per annum and will be issued
at a price of 99.878% of the aggregate principal amount.
The Issuers intend to use the net proceeds from the sale of the
Notes for general corporate purposes, including to repay certain
indebtedness, to fund potential buybacks of Class A common stock of
Charter and common units of Charter Communications Holdings, LLC
and to pay related fees and expenses. Charter expects to close the
offering of the Notes on November 10,
2023, 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").
BofA Securities, Inc., Deutsche Bank Securities Inc. and Morgan
Stanley & Co. LLC were Joint Book-Running Managers for the
senior secured notes offering. The offering was made only by means
of a prospectus supplement dated November 7,
2023 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 BofA Securities, Inc., 201 North
Tryon Street, NC1-022-02-25, Charlotte,
NC 28255-0001, Attn: Prospectus Department, by telephone:
1-800-294-1322 or by emailing: dg.prospectus_requests@bofa.com, or
by contacting Deutsche Bank Securities Inc., Attention: Prospectus
Group, 1 Columbus Circle, New York,
NY 10019; Telephone: (800) 503-4611; E-mail:
prospectus.CPDG@db.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
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
and sports programming to its customers through Spectrum Networks.
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, the potential
offering. 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,"
"grow," "focused on" 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.