Liberty Broadband to offer $450 million notes due 2050 exchangeable for Charter Communications

Chicago, Aug. 24 – Liberty Broadband Corp. is planning to offer $450 million of exchangeable senior debentures due 2050, exchangeable for Charter Communications, Inc. common stock, according to a press release on Monday.

The notes will have a $67.5 million greenshoe.

The notes will be exchangeable at the option of the noteholders during specified periods.

The notes can be settled in stock, cash or a combination of the two.

Proceeds from the Rule 144A issue are expected to be used for general corporate purposes, which may include the repurchase of shares of Liberty Broadband common stock.

Englewood, Colo.-based Liberty Broadband has ownership of TruePosition, Inc., which develops and markets technology for locating wireless phones on a cellular network, and holds an interest in Charter Communications, Inc. and a minority equity investment in Time Warner Cable, Inc.

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