Summary
Charter Communications, Inc. (CHTR) announced on December 27, 2000, through its subsidiaries Charter Communications Holdings, LLC and Charter Communications Holdings Capital Corporation, plans for a significant private placement of senior and senior discount notes. The offering is designed to raise approximately $850.0 million. This financing is primarily intended to address existing debt obligations. Specifically, the proceeds will be used to repay $272.5 million outstanding under Charter Holdings' August 2000 senior bridge loan and to reduce amounts owed under certain subsidiaries' revolving credit facilities. This move signals a strategic effort by Charter Communications to refinance its debt structure and manage its liquidity in early 2001.
Key Highlights
- 1Charter Communications is planning a private placement of senior and senior discount notes to raise $850.0 million.
- 2The financing is scheduled for early January 2001.
- 3Proceeds will be used to repay $272.5 million of a senior bridge loan secured in August 2000.
- 4A portion of the funds will also be used to repay outstanding amounts under certain subsidiaries' revolving credit facilities.
- 5The notes being offered include senior notes due in 2008 and 2011, and senior discount notes due in 2011.
- 6This filing is an 8-K report dated December 27, 2000, and includes a press release as an exhibit.