ST. LOUIS, Jan. 4, 2011 /PRNewswire/ -- Charter
Communications, Inc. (along with its subsidiaries, the "Company" or
"Charter") today announced that its subsidiaries, CCO Holdings, LLC
and CCO Holdings Capital Corp. have priced a public offering of
$1.1 billion in aggregate principal
amount of senior unsecured notes due 2019. The notes will bear an
interest rate of 7 percent per annum and will be issued at a price
of 99.246 percent of the aggregate principal amount. The notes will
result in net proceeds to the Company of approximately $1.076 billion after deducting underwriting
discounts and commissions.
Charter intends to use the net proceeds from the sale of the
notes to repay outstanding term loan borrowings under its
subsidiary's credit facility and for general corporate purposes.
The Company expects to close the offering on January 11, 2011, subject to customary closing
conditions.
The offering and sale of the notes were made pursuant to an
automatic shelf registration statement on Form S-3 previously filed
with the Securities and Exchange Commission ("SEC") on January 4, 2011.
Deutsche Bank Securities Inc. acted as the Lead Bookrunning
Manager for the offering. The offering was made only by means of a
prospectus supplement and the accompanying base prospectus, copies
of which may be obtained on the SEC's website at www.sec.gov or by
contacting Deutsche Bank Securities Inc. at Prospectus Department,
100 Plaza One, Jersey City, NJ
07311 or by telephone at 1-800-503-4611.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy any securities, nor shall there be any sale of
any such securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. A registration statement relating to the securities
has been filed and became effective January
4, 2011.
The closing on the notes offering is subject to customary
closing conditions.
About Charter
Charter (Nasdaq: CHTR) is a leading broadband communications
company and the fourth-largest cable operator in the United States. Charter provides a full
range of advanced broadband services, including advanced Charter
TV™ video entertainment programming, Charter Internet™ access, and
Charter Phone™. Charter 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
Charter Media® brand. More information about Charter can be found
at charter.com.
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," "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 free cash flow by
offering video, high-speed Internet, telephone and other services
to residential and commercial customers, to adequately deliver
customer service 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);
- 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) free cash flow, (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.