STAMFORD, Conn., Aug. 9, 2018 /PRNewswire/ -- Charter
Communications, Inc. (NASDAQ: CHTR) (along with its
subsidiaries, "Charter") today announced that its subsidiaries,
Charter Communications Operating, LLC ("CCO") and Charter
Communications Operating Capital Corp. (together with CCO, the
"Issuers"), have priced $500 million
in aggregate principal amount of senior secured floating rate notes
due 2024 (the "Floating Rate Notes") which will be issued at a
price of 101.479% of the aggregate principal amount. The Floating
Rate Notes will form a part of the same series as the Issuers'
senior secured floating rate notes due 2024 issued July 3, 2018, and which bear interest at a rate
of three-month LIBOR, reset quarterly, plus 165 basis points.
![Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.) Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.)](https://mma.prnewswire.com/media/322615/charter_communications__inc__logo.jpg)
Charter intends to use the net proceeds from the sale of the
Floating Rate Notes for general corporate purposes, including to
fund potential buybacks of Class A common stock of Charter or
common units of Charter Communications Holdings, LLC and to repay
certain indebtedness, including outstanding revolver balances.
Charter expects to close the offering of the Floating Rate Notes on
August 15, 2018, subject to customary
closing conditions.
The offering and sale of the Floating Rate Notes were made
pursuant to an effective automatic shelf registration statement on
Form S-3 filed with the Securities and Exchange
Commission (the "SEC").
The offering was made only by means of a prospectus supplement
dated August 9, 2018 and the
accompanying base prospectus, copies of which, when available, may
be obtained on the SEC's website at www.sec.gov.
This news release is neither an offer to sell nor a solicitation
of an offer to buy the Floating Rate 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 Floating Rate Notes in any
jurisdiction in which such offer, solicitation, or sale is
unlawful.
About Charter
Charter Communications, Inc.
(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
residential broadband services, including Spectrum TV® programming,
Spectrum Internet®, and Spectrum Voice®. Under the Spectrum
Business® brand, Charter provides scalable, and cost-effective
broadband communications solutions to small and medium-sized
business organizations, including Internet access, business
telephone, and TV services. Through the Spectrum Enterprise brand,
Charter is a national provider of scalable, fiber-based technology
solutions serving many of America's largest businesses and
communications service providers. Charter's advertising sales and
production services are sold under the Spectrum Reach® brand.
Charter's news and sports networks are operated under the Spectrum
Networks brand. More information about Charter can be found at
newsroom.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, our plans,
strategies and prospects, both business and financial.
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" 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.