Charter Communications, Inc. (CHTR: Quote) said Wednesday that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., closed on the public sale of $1.25 billion in aggregate principal amount of senior unsecured notes due 2022.
The notes bear an interest rate of 5.25 percent per annum and were issued at a price of 99.026 percent of the aggregate principal amount.
The notes resulted in net proceeds to the company of about $1.22 billion after deducting underwriting discounts and commissions.
Charter plans to use the net proceeds from the sale of the notes for general corporate purposes, including repaying amounts outstanding under the Charter Communications Operating, LLC revolving credit facility, to pay fees and expenses related to the offering and to fund the redemption of the CCH II, LLC 13.5% senior notes due 2016 on or before November 30, 2012.
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by RTT Staff Writer
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