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Charter units take in tenders of $60.63 million 5¼% notes due 2021
By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – Charter Communications, Inc. said its CCO Holdings, LLC/CCO Holdings Capital Corp. took in tenders of $60,628,000, or 12.13%, of their 5¼% notes due 2021 in their offer to purchase any and all of the notes.
The purchase price will be $1,001.25 per $1,000 principal amount plus accrued interest to but excluding the settlement date, according to a news release. Payment was expected to occur on Tuesday.
The offer began on Sept. 18 and expired at 5 p.m. ET on Sept. 27.
The subsidiaries plan to use proceeds of an offering of $1.35 billion 4¾% 10.5-year senior notes to fund the redemption.
The tender offer is conditioned on consummation of the offering.
The subsidiary issuers previously also issued a conditional notice to redeem any 5¼% notes due 2021 not tendered under the offer at par on Oct. 18.
Additionally, the issuers put out a conditional notice to redeem $850 million of its 5¾% notes due 2024 at 101.917 on Oct. 18.
Global Bondholder Services Corp. (212 430-3774, 866 807-2200 or contact@gbsc-usa.com) is the information agent and tender agent.
BofA Merrill Lynch (888 292-0070 or 980 386-6026) is the dealer manager.
The telecommunications and mass media company is based in Stamford, Conn.
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