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Charter to tender for $1 billion 7¼% notes, $700 million 8 1/8% notes
By Susanna Moon
Chicago, April 13 – Charter Communications, Inc. said it plans to tender for its $1 billion 7¼% senior notes due 2017 and its $700 million 8 1/8% senior notes due 2020.
The tender offer was set to begin after 5:01 p.m. ET on April 13.
The purchase price per $1,000 principal amount will be $1,040.50 for the 7¼% notes and $1,045.50 for the 8 1/8% notes, according to a company notice.
The company also will pay accrued interest.
Funding for the offer will come from an issue of new notes.
The company said its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., plan to offer $1.5 billion principal amount of senior notes due 2023 and 2025.
Charter is a Stamford, Conn.-based broadband communications company and cable operator.
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