Key Developments: Charter Communications Inc (CHTR.OQ)
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Latest Key Developments (Source: Significant Developments)
Charter Communications Inc To Replace BMC Software Inc On NASDAQ-100 Index Beginning July 25, 2013
Charter Communications Inc announced that it will become a component of the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index prior to market open on July 25, 2013. Charter Communications, Inc. will replace BMC Software Inc. Full Article
Charter Communications Inc Completes Acquisition of Optimum West from Cablevision Systems Corp
Charter Communications Inc and Cablevision Systems Corp announced the completion of Charter's $1.625 billion acquisition of Cablevision's Bresnan Broadband Holdings, LLC (Optimum West). As a result of the acquisition, Charter adds cable operating systems in Colorado, Montana, Wyoming and Utah that pass more than 660,000 homes and serve 375,000 residential and business customers. Charter funded the acquisition of Optimum West with $1.5 billion of committed bank financing to Charter Communications Operating, LLC, and liquidity from cash on hand and its revolving credit facility. Credit Suisse and Goldman Sachs acted as financial advisors to Charter, and also provided debt financing commitments for the transaction. Citi and J.P. Morgan acted as co-lead financial advisors to Cablevision. BofA Merrill Lynch and Guggenheim Securities provided financial advice to Cablevision. Sherman & Howard acted as legal counsel for Charter and Sullivan & Cromwell LLP as legal counsel to Cablevision. Full Article
Charter Communications Inc's Subsidiaries Closes on $1 Billion in Senior Unsecured Notes
Charter Communications Inc announced 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). The Notes bear an interest rate of 5.750% per annum and were issued at par. The Notes resulted in proceeds of approximately $987 million after deducting underwriting discounts, commissions and other expenses. Charter intends 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 announced 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. Pricing on the new term loans was set at LIBOR plus 225 basis points with a LIBOR floor of 0.75% and 0.25% of original issue discount. 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. Full Article
Charter Communications Inc And Liberty Media Corp Announces Agreement For Investment
Charter Communications Inc and Liberty Media Corporation announced that Liberty Media has entered into a definitive agreement with investment funds managed by, or affiliated with, Apollo Management, Oaktree Capital Management and Crestview Partners to acquire approximately 26.9 million shares and approximately 1.1 million warrants in Charter Communications, Inc. for approximately $2.617 billion, which represents an approximate 27.3% beneficial ownership in Charter and a price per share of $95.50. Liberty expects to fund the purchase with a combination of cash on hand and new loan arrangements. The transaction is expected to close in the first half of the second quarter of 2013. Upon closing, funds managed by Crestview and Oaktree will hold approximately 7.4% and 2.2%, respectively, of Charter's common shares. Liberty Media was advised by LionTree Advisors and Baker Botts L.L.P. Charter was advised by Kirkland & Ellis LLP. Apollo was advised by Citi and Wachtell, Lipton, Rosen & Katz. Oaktree was advised by Citi, Goldman Sachs and Paul, Weiss, Rifkind, Wharton & Garrison LLP. Crestview was advised by Davis Polk & Wardwell LLP. Full Article
Liberty Media Corp Close To Buying Stake In Charter Communications Inc-Reuters
Reuters reported that Liberty Media Corp is close to buying a 25% stake in Charter Communications Inc for about $2.5 billion, the Wall Street Journal reported. A Liberty spokeswoman declined to comment on the report while a spokeswoman for Charter was not immediately available for comment. Full Article
Charter Communications Inc's CCO Holdings, LLC and CCO Holdings Capital Corp Closes On $1 Billion In Senior Unsecured Notes
Charter Communications Inc's CCO Holdings, LLC and CCO Holdings Capital Corp. announced that they have closed on the private sale of $1 billion in aggregate principal amount of senior unsecured notes in two tranches, due in 2021 (the 2021 Notes) and 2023 (the 2023 Notes and collectively with the 2021 Notes, the Notes). The 2021 Notes total $500 million in aggregate principal amount and bear an interest rate of 5.25 percent per annum. The 2023 Notes total $500 million in aggregate principal amount and bear an interest rate of 5.75% per annum. The Notes were issued at par. Charter intends to use the net proceeds from the sale of the Notes for general corporate purposes, including to repay existing bank debt. Full Article
Charter Communications Inc Announces Secondary Offering By Selling Stockholders
Charter Communications Inc announced that selling stockholders, funds affiliated with Apollo have agreed to sell approximately 6.2 million shares and funds affiliated with Oaktree Opportunities Investments, L.P. have agreed to sell approximately 3.1 million shares of Charter common stock in an underwritten offering. Charter will not sell any shares in the offering and will not receive any proceeds from the offering. Goldman, Sachs & Co. will act as underwriter for the offering. The underwriter may offer Charter common stock in transactions on the NASDAQ, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market rates or at negotiated prices. Full Article
Charter Communications Inc Prices $1 Billion In Senior Unsecured Notes
Charter Communications Inc announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., have priced a private offering of $1 billion in aggregate principal amount of senior unsecured notes in two tranches due in 2021 (the 2021 Notes) and 2023 (the 2023 Notes and collectively with the 2021 Notes, the Notes). The 2021 Notes total $500 million in aggregate principal amount and will bear an interest rate of 5.25% per annum. The 2023 Notes total $500 million in aggregate principal amount and will bear an interest rate of 5.75% per annum. The Notes will be issued at par. The Notes will result in proceeds of approximately $987 million after deducting underwriting discounts, commissions and other expenses. Charter intends to use the net proceeds from the sale of the Notes for general corporate purposes, including to repay existing bank debt. Charter expects to close the offering on March 14, 2013. Full Article
Charter Communications Inc Offers $1 Billion Senior Unsecured Notes
Charter Communications Inc announced that subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., intend to privately offer $1 billion in aggregate principal amount of senior unsecured notes in two tranches due in 2021 and 2023. Charter intends to use the net proceeds from the sale of the notes for general corporate purposes, including to repay existing bank debt. Full Article
Charter Communications Inc To Acquire Optimum West From Cablevision Systems Corp
Charter Communications Inc and Cablevision Systems Corp announced that they have entered into a definitive agreement under which Charter Communications Operating, LLC will acquire Cablevision's Bresnan Broadband Holdings, LLC (Optimum West) for $1.625 billion in cash. Optimum West manages cable operating systems in Colorado, Montana, Wyoming and Utah that pass more than 660,000 homes and serve 304,000 video subscribers and 366,000 customer relationships. Full Article
Cox in talks about merger with Charter: Bloomberg
- Cox Communications Inc has held talks about merging with cable provider and rival Charter Communications Inc , Bloomberg cited two people with knowledge of the matter as saying on Friday.

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