Key Developments: Charter Communications Inc (CHTR.O)
112.14USD
17 May 2013
$-1.47 (-1.29%)
$113.61
$114.64
$114.72
$112.04
912,847
1,188,646
$116.42
$60.46
Latest Key Developments (Source: Significant Developments)
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
Charter Communications Inc Closes On $1.0 Billion Senior Unsecured Notes
Charter Communications Inc announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., (collectively, the "Issuers") closed on the public sale of $1.0 billion in aggregate principal amount of senior unsecured notes due 2023. The notes bear an interest rate of 5.125% per annum and were issued at a price of 100.0% of the aggregate principal amount. The notes resulted in net proceeds to the Company of approximately $988.0 million after deducting underwriting discounts and commissions. 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's Subsidiaries Prices $1.0 Billion Senior Unsecured Notes
Charter Communications Inc announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., have priced a public offering of $1.0 billion in aggregate principal amount of senior unsecured notes due 2023 (the "Notes"). The Notes will bear an interest rate of 5.125 % per annum and will be issued at a price of 100.0% of the aggregate principal amount. The Notes will result in net proceeds to the Company of approximately $987.0 million after deducting underwriting discounts and commissions. Charter intends to use the net proceeds from the sale of the Notes for general corporate purposes, including to repay existing bank debt. The Company expects to close the offering of the Notes on December 17, 2012 , subject to customary closing conditions. The offering and sale of the Notes were made pursuant to a shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission ("SEC"). Full Article
Supreme Court won't hear Charter Communications bankruptcy case
WASHINGTON - The Supreme Court declined on Monday to hear a challenge to the post-bankruptcy reorganization of Charter Communications Inc.
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