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CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 09/11/2017
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Charter Communications, Inc. (along with its subsidiaries, “Charter”) today announced that its subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. (collectively, the “Issuers”), intend to offer senior secured notes due 2028 and senior secured notes due 2047 (collectively, the “Notes,” and the offering thereof, the “Notes Offering”). The senior secured notes due 2047 will form a part of the same series as the Issuers’ 5.375% Senior Secured Notes due 2047 issued in an initial offering on April 20, 2017 and in the follow-on offering on July 6, 2017. The Issuers intend to use the net proceeds from the Notes Offering to pay related fees and expenses and for general corporate purposes, including to fund buybacks of Class A common stock of Charter or common units of Charter Communications Holdings, LLC, a subsidiary of Charter.

The Notes will be 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. The offering is subject to, among other things, market conditions.

This report 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.

In connection with the Notes Offering, certain information is being provided to potential investors and is furnished below.

Stock Repurchase Program

Charter continues to evaluate the deployment of its cash on hand and anticipated future free cash flow including to invest in its business growth and other strategic opportunities, including mergers and acquisitions as well as stock repurchases and dividends. As Charter reported in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, during the three and six months ended June 30, 2017, Charter purchased approximately 10.0 million and 12.4 million shares, respectively, of Charter’s Class A common stock for approximately $3.3 billion and $4.1 billion, respectively. As of September 8, 2017, Charter had remaining board authority to purchase an additional $6.4 billion of Charter’s Class A common stock without taking into account shares or units that may be purchased from Advance/Newhouse Partnership. Charter is not obligated to acquire any particular amount of common stock, and the timing of any purchases that may occur cannot be predicted and will largely depend on market conditions and other potential uses of capital. Purchases may include open market purchases, tender offers or negotiated transactions.

The information contained in this Current Report on Form 8-K shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Further, such information shall not be deemed incorporated by reference into any of the Company’s reports or filings with the Securities Exchange Commission, whether made before or after the date hereof, except as expressly set forth by specific reference in such report or filing.

Cautionary Statement Regarding Forward-Looking Statements

This report includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the Notes Offering and use of proceeds. 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 risk factors described in our reports or documents that we file from time to time with the Securities and Exchange Commission. Many of the forward-looking statements contained in this report may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend” 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 report.