Charter subsidiary gets $750 term loan due 2017 at Libor plus 225 bps

By Susanna Moon

Chicago, Dec. 20 - Charter Communications, Inc. said its subsidiary Charter Communications Operating, LLC closed a $750 million senior secured term loan A facility on Monday.

Interest on the loans will accrue at Libor plus 225 basis points with no Libor floor.

The facility will mature on May 15, 2017.

The term loan has a delayed-draw component, of which $250 million was funded at closing, and the remaining $500 million will be funded by March 15, 2012.

Proceeds will be used for general corporate purposes.

Charter is a St. Louis-based cable operator and broadband communications company.

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