ST. LOUIS, Sept. 20 /PRNewswire-FirstCall/ -- Charter
Communications, Inc. (Nasdaq: CHTR) (the "Company") today announced
that its subsidiary, CCO Holdings, LLC ("CCO Holdings"), intends to
offer for sale an aggregate of $750
million principal amount of Senior Notes due 2017 (the "2017
Notes"). The net proceeds of this proposed issuance will be used
(i) to repay borrowings under one or more term loan portions of
Charter Communications Operating, LLC's ("Charter Operating")
credit facilities, and (ii) for general corporate purposes.
Concurrently with the offering of the 2017 Notes, the Company's
subsidiaries, Charter Operating and Charter Communications
Operating Capital Corp. ("CCO Capital") have commenced an optional
prepayment offer to prepay up to $750
million of Term B-1 loans ($3.3
billion aggregate principal amount) under the Amended and
Restated Credit Agreement.
The 2017 Notes will be 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 offering is subject to, among other things, market
conditions.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes in any state in which such offer, solicitation or sale would
be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
(the "Securities Act"), and Section 21E of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), regarding, among
other things, our plans, strategies and prospects, both business
and financial. Although we believe that our plans, intentions and
expectations 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 Securities and Exchange Commission ("SEC"). Many
of the forward-looking statements contained in this release 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,"
"preliminary," "tentative", "positioning," and "potential," among
others. Important factors that could cause actual results to differ
materially from the forward-looking statements we make in this
release are set forth in other reports or documents that we file
from time to time with the SEC, and include, but are not limited
to:
- our ability to sustain and grow revenues and cash flows from
operating activities by offering video, high-speed Internet,
telephone and other services to residential and commercial
customers, and to maintain and grow our customer base, particularly
in the face of increasingly aggressive competition, the need for
innovation and related capital expenditures and the difficult
economic conditions in the United
States;
- the impact of competition from other distributors, including
but not limited to incumbent telephone companies, direct broadcast
satellite operators, wireless broadband providers, and digital
subscriber line ("DSL") providers and competition from video
provided over the Internet;
- general business conditions, economic uncertainty or downturn,
high unemployment levels and the significant downturn in the
housing sector and overall economy;
- our ability to obtain programming at reasonable prices or to
raise prices to offset, in whole or in part, the effects of higher
programming costs (including retransmission consents);
- our ability to adequately deliver customer service;
- the effects of governmental regulation on our business;
- the availability and access, in general, of funds to meet our
debt obligations, prior to or when they become due, and to fund our
operations and necessary capital expenditures, either through (i)
cash on hand, (ii) cash flows from operating activities, (iii)
access to the capital or credit markets including through new
issuances, exchange offers or otherwise, especially given recent
volatility and disruption in the capital and credit markets, or
(iv) other sources and our ability to fund debt obligations (by
dividend, investment or otherwise) to the applicable obligor of
such debt; and
- our ability to comply with all covenants in our indentures and
credit facilities, any violation of which, if not cured in a timely
manner, could trigger a default of our other obligations under
cross-default provisions.
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
release.
SOURCE Charter Communications, Inc.
Copyright . 20 PR Newswire