ST. LOUIS, Jan. 11, 2012 /PRNewswire/ -- Charter
Communications, Inc. (NASDAQ: CHTR) (along with its
subsidiaries, the "Company" or "Charter") today announced that its
subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp.,
(collectively, the "Issuers") have priced their previously
announced public offering of $750
million in aggregate principal amount of senior unsecured
notes due 2022 (the "Notes"). The Notes will bear an interest rate
of 6.625 percent per annum and will be issued at a price of 99.500
percent of the aggregate principal amount.
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The Notes will result in net proceeds to the Company of
approximately $736.5 million after
deducting underwriting discounts and commissions. Charter intends
to use the net proceeds from the sale of the Notes and borrowings
under its revolving credit facility to finance the previously
announced tender offers and consent solicitations for any and all
of Charter Communications Operating, LLC's 8.00% senior second lien
notes due 2012 and 10.875% senior second lien notes due 2014 and
certain of CCH II, LLC's 13.50% senior notes due 2016. The Company
expects to close the offering of Notes on January 26, 2012, subject to customary
closing conditions. The offering and sale of the Notes were
made pursuant to a shelf registration statement on Form S-3
previously filed with the Securities and Exchange Commission
("SEC").
Credit Suisse Securities (USA)
LLC acted as the Lead Bookrunning Manager for the offering. The
offering was made only by means of a prospectus supplement dated
January 11, 2012, and the
accompanying base prospectus, copies of which may be obtained on
the SEC's website at www.sec.gov or by contacting Credit Suisse
Securities (USA) LLC, Prospectus
Department, One Madison Avenue, New York,
NY 10010, 1-800-221-1037.
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.
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, Internet, telephone, advertising and other services
to residential and commercial customers, to adequately meet the
customer experience demands in our markets and to maintain and grow
our customer base, particularly in the face of increasingly
aggressive competition, the need for innovation and the related
capital expenditures and the difficult economic conditions in
the United States;
- the impact of competition from other market participants,
including but not limited to incumbent telephone companies, direct
broadcast satellite operators, wireless broadband and telephone
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 level of activity in the housing
sector;
- 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, or (iii) access to the capital
or credit markets; 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.