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SEC Filings

S-1/A
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1/A on 11/01/1999
Entire Document
 
<PAGE>   73
 
     The sources of cash for the recent and pending acquisitions are as follows
(dollars in millions):
 
   

<TABLE>
    <S>                                                       <C>         <C>         <C>
    CASH SHORTFALL:
    Current liabilities:
      8% liability to Falcon sellers........................  $  425.0
      8% liability to Bresnan sellers.......................   1,000.0
      8% liability to Rifkin sellers........................     133.3    $1,558.3
                                                              --------
    Publicly held debt, at fair market value:
      9.375% senior subordinated notes -- Avalon............     150.0
      11.875% senior discount notes -- Avalon...............     128.6       278.6
                                                              --------
    Falcon bridge loan facility.............................                 705.7
    Anticipated financing to be arranged in connection with
      Bresnan acquisition...................................               1,715.3
                                                                          --------
      Total cash shortfall..................................                          $ 4,257.9
    AVAILABLE AND COMMITTED SOURCES:
    Escrow deposit -- Avalon................................                  50.0
    Funded or expected equity contributions:
      Mr. Allen equity contributions........................   1,325.0
      Mr. Allen committed equity contribution...............     750.0
      Net proceeds from sale of Class B shares..............       0.9
      Net proceeds from the offering........................   2,897.6     4,973.5
                                                              --------
    Expected credit facilities draw down:
      Charter Operating's credit facilities.................               1,604.1
      Credit facilities of acquisitions
         Falcon.............................................   1,011.0
         Avalon.............................................     169.0
         Fanch..............................................     875.0     2,055.0
                                                              --------
    Helicon preferred limited liability company interests...                  25.0
                                                                          --------
      Total available and committed sources.................                            8,707.6
                                                                                      ---------
                                                                                      $12,965.5
                                                                                      =========
</TABLE>

    
 
   
     The cash shortfall is included in short-term debt in the pro forma balance
sheet.
    
 
   
     Available and committed sources of funds will not be sufficient to
consummate our pending acquisitions and fund related obligations. In connection
with our pending acquisitions, we may need to raise additional amounts up to a
total of approximately $4.36 billion.
    
 
   
     We will need to raise approximately $1.72 billion by borrowing under credit
facilities at Bresnan that have not yet been arranged and/or by issuing debt or
equity securities of Charter Communications, Inc. or Charter Communications
Holding Company to fund:
    
 
   
     - approximately $0.87 billion of the Bresnan purchase price;
    
 
   
     - approximately $0.50 billion in outstanding Bresnan credit facility
       borrowings that we would have to repay if we are unable to assume and
       amend the existing Bresnan credit facilities; and
    
 
   
     - approximately $0.35 billion in Bresnan notes that we expect to be put to
       us in connection with required change of control offers for these notes.
    
 
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