Charter to repurchase, redeem $2 billion of Time Warner’s 5.85% notes

By Susanna Moon

Chicago, March 9 – Charter Communications, Inc. plans to repurchase or redeem $2 billion principal amount of Time Warner Cable, LLC's 5.85% notes due 2017 using proceeds of an add-on issue.

Charter plans to price another $1 billion of senior notes due May 1, 2027, originally issued on Feb. 6, according to a company announcement.

The company also plans to use cash on hand to fund the repurchase or redemption.

As reported, Charter priced $1 billion of senior notes due May 1, 2027 at par to yield 5 1/8% on Jan. 17.

The issuer is a Stanford, Conn.-based cable and internet services provider.

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