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|CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 11/25/2015|
Charter Closes on $2.5 Billion Senior Unsecured Notes
STAMFORD, Connecticut November 20, 2015 Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, Charter) today announced that its subsidiary, CCOH Safari, LLC, has closed on the sale of $2.5 billion of senior unsecured notes due 2026 (the Notes). The Notes total $2.5 billion in aggregate principal amount and bear an interest rate of 5.750% per annum. The Notes were issued at par.
Charter intends to use the net proceeds from the sale of the Notes to partially finance Charters previously announced transactions with Time Warner Cable Inc. (NYSE: TWC) and Bright House Networks, LLC. The proceeds from the offering of the Notes were placed in escrow at CCOH Safari, LLC and will remain in escrow until the closing of the transaction between Charter and Time Warner Cable Inc., at which time the Notes will be assumed by Charters subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp.
The Notes were 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.
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 in any jurisdiction in which such offer, solicitation, or sale is unlawful.