8-KOther EventsExhibits & Filings

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Corporate Update (Oct 2, 2008)

Filed October 2, 2008For Securities:CHTR

Summary

Charter Communications, Inc. (CHTR) announced through its subsidiary, Charter Communications Holding Company, LLC (“Charter HoldCo”), the commencement of a cash tender offer on September 30, 2008. The offer is for certain outstanding senior notes of Charter Communications Holdings, LLC, with a maximum aggregate purchase amount of $100 million, including accrued interest. This initiative signals Charter HoldCo's intent to manage its debt by actively repurchasing a portion of its senior notes in the open market. Investors should note the expiration date of the tender offer is October 29, 2008, with an early tender deadline of October 14, 2008. Tendering notes by the early deadline will result in holders receiving an "Early Tender Premium," in addition to the principal and accrued interest. The ability to withdraw tendered notes is contingent on the timing of the tender, with a specified withdrawal deadline tied to the early tender date. This tender offer is a key event for bondholders and reflects the company's current debt management strategy.

Key Highlights

  • 1Charter Communications Holding Company, LLC (a subsidiary) launched a cash tender offer on September 30, 2008.
  • 2The offer targets specific outstanding senior notes of Charter Communications Holdings, LLC.
  • 3The maximum amount Charter HoldCo will spend on the tender offer is $100 million, inclusive of accrued interest.
  • 4The tender offer is set to expire on October 29, 2008, unless extended or terminated.
  • 5An early tender deadline is set for October 14, 2008, which allows tendering holders to receive an Early Tender Premium.
  • 6Notes tendered by the early deadline may be withdrawn up to the Withdrawal Deadline (October 14, 2008), subject to exceptions.
  • 7The company is actively managing its debt by repurchasing senior notes.

Frequently Asked Questions

Charter Communications, through its subsidiary Charter HoldCo, has launched a cash tender offer to repurchase up to $100 million of its outstanding senior notes. This is an active debt management strategy to reduce outstanding debt.

The tender offer will expire at 5:00 p.m. Eastern Time on Wednesday, October 29, 2008. To receive an Early Tender Premium, noteholders must tender their notes by 5:00 p.m. ET on Tuesday, October 14, 2008.

Yes, notes tendered at or prior to the Withdrawal Deadline of 5:00 p.m. ET on Tuesday, October 14, 2008, may be withdrawn. Notes tendered after this deadline but before the Expiration Time may not be withdrawn, except as required by law.

Charter HoldCo is offering to purchase an amount of Notes not to exceed $100 million, which includes accrued and unpaid interest.