New Issue: Charter Holdings places $1.6 billion of eight-, 10-year senior notes

By Paul A. Harris

St. Louis, April 14 - CCO Holdings, LLC and CCO Holdings Capital Corp. priced $1.6 billion of senior notes (B2/B/) in two par-pricing tranches on Wednesday, according to an informed source.

The quick-to-market deal came with $900 million of 7 7/8% eight-year notes, which priced tight to the 8% area price talk, and $700 million 8 1/8% 10-year notes, which also priced tight to the 8¼% area price talk.

Credit Suisse, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc. and UBS Investment Bank were the joint bookrunners.

The St. Louis-based cable company will use the proceeds to finance its tender for CCO Holdings' 8¾% senior notes due 2013 and Charter Communications Operating, LLC's 8 3/8% senior second-lien notes due 2014.

Issuers:	CCO Holdings, LLC and CCO Holdings Capital Corp.
Amount:	$1.6 billion
Securities:	Senior notes
Bookrunners:	Credit Suisse, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., UBS Investment Bank
Trade date:	April 14
Settlement date:	April 28
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A and Regulation S with registration rights
Eight-year notes
Amount:	$900 million
Maturity:	April 30, 2018
Coupon:	7 7/8%
Price:	Par
Yield:	7 7/8%
Spread:	437 bps
First call:	April 30, 2013 at 105.906
Price talk:	8% area
10-year notes
Amount:	$700 million
Maturity:	April 30, 2020
Coupon:	8 1/8%
Price:	Par
Yield:	8 1/8%
Spread:	430 bps
First call:	April 30, 2015 at 104.063
Price talk:	8¼%

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