Charter Communications, Inc. (CHTR) said Friday that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., have closed on the public sale of $1 billion in aggregate principal amount of senior unsecured notes due in 2024.
The Notes bear an interest rate of 5.750% per annum and were issued at par.
The notes resulted in proceeds of about $987 million after deducting underwriting discounts, commissions and other expenses. Charter plans to use the net proceeds from the sale of the Notes to repurchase or redeem CCO Holdings' outstanding 7.875% senior notes due 2018, to pay related fees and expenses and for general corporate purposes.
Charter also said that its subsidiary, Charter Communications Operating, LLC, has entered into a Term Loan F pursuant to the terms of its amended and restated credit agreement providing for $1.2 billion of term loans with a final maturity date of January 3, 2021.
The proceeds from Term Loan F will be used, together with other funds, to refinance $532 million principal amount of Term Loan C due 2016, and $743 million principal amount of Term Loan D due 2019.
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