Charter Communications offers new senior secured notes due 2049

By Cristal Cody

Tupelo, Miss., June 25 – Charter Communications, Inc. subsidiaries Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. are marketing new 30-year senior secured notes on Tuesday, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will have make-whole and par calls.

The bonds will be guaranteed by all of the issuers’ subsidiaries that issue or guarantee any equally and ratably secured debt.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds will be used to repay certain debt, which may include the 5% senior notes due Feb. 1, 2020 issued by Time Warner Cable, LLC. Any remaining proceeds will be used for general corporate purposes, including to fund potential buybacks of class A common stock of Charter or common units of Charter Communications Holdings, LLC.

Charter is a Stamford, Conn.-based broadband communications company.

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