STAMFORD, Conn., March 9, 2017 /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 priced
$1.0 billion in aggregate principal
amount of senior unsecured notes due 2027 (the "Notes"). The Notes
will bear interest at a rate of 5.125% per annum and will be issued
at a price of 99.0% of the aggregate principal amount. The Notes
will form part of the same series as the 5.125% Senior Unsecured
Notes issued on February 6, 2017 in
the aggregate principal amount of $1.0
billion.
The notes will result in proceeds of approximately $981 million after deducting underwriting
discounts, commissions and new issue discount. Charter
intends to use the net proceeds from the sale of the Notes, as
well as cash on hand, to repurchase or redeem $2.0 billion in aggregate principal amount of
Time Warner Cable, LLC's 5.850% notes due 2017, to pay related fees
and expenses and for general corporate purposes.
The Notes are being 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. The closing of the offering is subject to
customary closing conditions.
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 (NASDAQ: CHTR) is a leading broadband communications
company and the second largest cable operator in the United States. Charter provides a full
range of advanced broadband services, including Spectrum TV™ video
entertainment programming, Spectrum Internet™ access, and Spectrum
Voice™. Spectrum Business™ similarly provides scalable, tailored,
and cost-effective broadband communications solutions to business
organizations, such as business-to-business Internet access, data
networking, business telephone, video and music entertainment
services, and wireless backhaul. Charter's advertising sales and
production services are sold under the Spectrum Reach™ brand. More
information about Charter can be found at www.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 and redemption of notes. 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," 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.