STAMFORD, Conn., May 18, 2021 /PRNewswire/ -- Charter
Communications, Inc. (NASDAQ: CHTR) (along with its
subsidiaries, "Charter") today announced that its subsidiaries,
Charter Communications Operating, LLC and Charter Communications
Operating Capital Corp. (collectively, the "Issuers"), have priced
$2.8 billion in aggregate principal
amount of notes consisting of the following securities:
![Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.) Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.)](https://mma.prnewswire.com/media/76092/charter_communications_logo.jpg)
- $1.4 billion in aggregate
principal amount of Senior Secured Notes due 2052 (the "2052
Notes"). The 2052 Notes will form a part of the same series as the
Issuers' Senior Secured Notes due 2052 issued on March 4, 2021, which bear interest at a rate of
3.900% per annum. The 2052 Notes will be issued at a price of
95.578% of the aggregate principal amount.
- $1.4 billion in aggregate
principal amount of Senior Secured Notes due 2061 (the "2061
Notes," and together with the 2052 Notes, the "Notes"). The 2061
Notes will bear interest at a rate of 4.400% per annum and will be
issued at a price of 99.906% of the aggregate principal
amount.
Charter intends to use the net proceeds from the sale of the
Notes for general corporate purposes, including to fund potential
buybacks of Class A common stock of Charter and common units of
Charter Communications Holdings, LLC, to repay certain indebtedness
and to pay related fees and expenses. Charter expects to close the
offering of the Notes on June 2,
2021, subject to customary closing conditions.
The offering and sale of the Notes were made pursuant to an
effective automatic shelf registration statement on Form S-3 filed
with the Securities and Exchange Commission (the
"SEC").
Deutsche Bank Securities Inc., Mizuho Securities USA LLC and Morgan Stanley & Co LLC were
Joint Book-Running Managers for the Notes offering. The offering
was made only by means of a prospectus supplement dated
May 18, 2021 and the accompanying
base prospectus, copies of which, when available, may be obtained
on the SEC's website at www.sec.gov or by contacting Deutsche
Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street,
New York, NY 10005; Telephone:
(800) 503-4611; E-mail: prospectus.CPDG@db.com, or by contacting
Mizuho Securities USA LLC,
Attention: Debt Capital Markets, 1271 Avenue of the Americas,
New York, NY 10022, Telephone:
(866) 271-7403, or by contacting Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, NY 10014; E-mail:
prospectus@morganstanley.com.
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 Communications, Inc. (NASDAQ:CHTR) is a leading broadband
connectivity company and cable operator serving more than 31
million customers in 41 states through its Spectrum brand. Over an
advanced communications network, the company offers a full range of
state-of-the-art residential and business services including
Spectrum Internet®, TV, Mobile and Voice.
For small and medium-sized companies, Spectrum
Business® delivers the same suite of broadband products
and services coupled with special features and applications to
enhance productivity, while for larger businesses and government
entities, Spectrum Enterprise provides highly customized,
fiber-based solutions. Spectrum Reach® delivers tailored
advertising and production for the modern media landscape. The
company also distributes award-winning news coverage, sports and
high-quality original programming to its customers through Spectrum
Networks and Spectrum Originals. More information about Charter can
be found at corporate.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," "focused on" 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.