Charter Communications to hold Wednesday investor call for $400 million two-part offering

By Paul A. Harris

St. Louis, Jan. 24 - Charter Communications, Inc., plans to hold an investor conference call at 11 a.m. ET Wednesday for a $400 million two-part bond offering (expected ratings Caa1/CCC-) to be issued via subsidiary CCH II, LLC.

The company plans to offer seven-year senior notes with a coupon that will be cash-pay or pay-in-kind at the company's discretion. The new senior notes will come with five years of call protection.

The St. Louis cable TV and high-speed internet services provider also plans to do a tap of its 10¼% senior notes due 2010. The present outstanding amount of that issue is $1.6 billion.

JP Morgan, Credit Suisse and Deutsche Bank are joint bookrunners for the notes, which are being marketed via Rule 144A with registration rights and via Regulation S.

Proceeds will be used to repay debt under the company's revolving credit facility.

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