Summary
This Form 8-K filing from Charter Communications, Inc. (CHTR) on August 17, 2005, primarily reports on a material definitive agreement entered into by its indirect subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. The subsidiaries have agreed to issue and sell $300 million in principal amount of 8.75% Senior Notes due 2013 in a private placement under Rule 144A. The net proceeds from this debt issuance are intended for general corporate purposes, including potential dividend payments or distributions to parent companies to cover their interest expenses. The notes will mature on November 15, 2013, and carry an interest rate of 8.75% per annum, payable semi-annually. The transaction closed on August 17, 2005, with the purchase price set at approximately 98.001% of the principal amount plus accrued interest.
Key Highlights
- 1Charter Communications' subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., issued $300 million in 8.75% Senior Notes due 2013.
- 2The notes were sold via a private placement under Rule 144A.
- 3Proceeds are designated for general corporate purposes, including potential dividend payments to parent companies for interest expense.
- 4The notes mature on November 15, 2013.
- 5Interest on the notes is 8.75% per annum, payable semi-annually on May 15 and November 15.
- 6The notes are redeemable by the Issuers on or after November 15, 2008, with redemption prices starting at 104.375% and declining to par.
- 7The transaction closed on August 17, 2005.