Charter Communications' Subsidiary To Offer Unsecured Senior Notes For $1 Billion

Charter Communications, Inc. CHTR said, in a statement, that its subsidiaries, CCO Holdings, LLC, as well as, CCO Holdings Capital Corp, plans to come out with $1.0 billion offering of unsecured senior notes due 2026. The proceeds of the issue would be used to buy back or redeem a portion of its outstanding 7.0% Senior Notes due 2019 and 7.375% Senior Notes due 2020, according to the company. Charter said that it would also use the proceeds for paying fees and expenses in connection with the offering. The company clarified that its February issue of senior unsecured notes due 2024 for $1.7 billion would be used for buying back its outstanding Senior Notes due in 2019, 2020 and 2021. The Cable firm also indicated that it would use the proceeds for general corporate purposes. The company said that the fresh notes would be sold to qualified institutional investors in accordance with the Rule 144A. Charter stock ended Wednesday trading on a flat note.
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