Print Page  Close Window

SEC Filings

S-1/A
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1/A on 09/28/1999
Entire Document
 
<PAGE>   95
 
   
payable semi-annually in cash on each April 15 and October 15 thereafter.
Interest on the subordinated notes is payable semi-annually on March 31 and
September 30 of each year. Our acquisition of Falcon will trigger change of
control provisions under the Falcon debentures that will require us to make
offers to repurchase these notes at prices equal to 101% of the outstanding
principal amounts, plus accrued interest. In addition, our acquisition of Falcon
will constitute an event of default under the terms of the Falcon subordinated
notes and will give rise, if written notice is given by holders of a majority in
outstanding principal amount, to an obligation to repay all outstanding
principal and accrued interest on the Falcon subordinated notes, plus accrued
interest and a make-whole premium, within 30 days of the receipt of the notice.
    
 
   
     FALCON CREDIT FACILITIES.   In connection with the Falcon acquisition, we
have amended and restated, effective upon the closing of the acquisition, the
existing Falcon credit facilities providing for available borrowing capacity of
$1.5 billion. As of June 30, 1999, $967.0 million was outstanding and $533.0
million was available for borrowing under these credit facilities. We are also
trying to raise additional commitments for a supplemental revolving credit
facility in the maximum amount of $350 million.
    
 
   
     AVALON NOTES.   Avalon has 11 7/8% senior discount notes due 2008 and
9 3/8% senior subordinated notes due 2008. As of June 30, 1999, the accreted
value of the Avalon 11 7/8% senior discount notes was $118.1 and $150.0 million
in total principal 9 3/8% senior subordinated notes remained outstanding. Before
December 1, 2003, there will be no payments of cash interest on the 11 7/8%
senior discount notes. After December 1, 2003, cash interest on the 11 7/8%
senior discount notes will be payable semi-annually on June 1 and December 1 of
each year, commencing June 1, 2004. Interest on the 9 3/8% senior subordinated
notes is payable semi-annually on June 1 and December 1 of each year. Our
acquisition of Avalon will trigger change of control provisions under the Avalon
notes that will require us to make an offer to repurchase them at a price equal
to 101% of the outstanding principal amounts, plus accrued interest.
    
 
   
     AVALON CREDIT FACILITIES.   Avalon has credit facilities providing for
borrowings of up to approximately $345.0 million. As of June 30, 1999,
approximately $177.4 million was outstanding and $167.6 million was available
for borrowing under these credit facilities. Because our acquisition of Avalon
will trigger the change of control provisions under the Avalon credit facilities
and the debt outstanding may become due and payable, we intend to amend or
refinance the Avalon credit facilities. If we are not able to amend these credit
facilities or arrange for their refinancing, we will be required to repay the
Avalon credit facilities.
    
 
   
     BRESNAN NOTES.   Bresnan has 8% senior notes due 2009 and 9 1/4% senior
discount notes due 2009. As of June 30, 1999, $170.0 million in total principal
8% Bresnan senior notes was outstanding and the accreted value of the Bresnan
    
 
                                       92