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CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Corporate Update (Aug 15, 2018)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed August 15, 2018
Period End
August 9, 2018
Security
CHTR
In the record · 2016–202610-K1110-Q328-K179

CHTR filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 179 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’17Oct ’17
  2. Material agreement8-K · Jul ’20Jul ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed August 15, 2018. Cited figures are marked; the original filing is the authoritative source.

Charter Communications, Inc. (CHTR) filed an 8-K on August 15, 2018, primarily to disclose an underwriting agreement for the issuance and sale of $500 milliona in Senior Secured Floating Rate Notes due 2024.

These notes will be fungible with previously issued notes, effectively increasing the total outstanding principal amount of this series to $900 millionb. This action indicates Charter's ongoing strategy to access capital markets for funding. Investors should note that the issuance of additional debt increases the company's leverage.

While the floating rate nature of these notes might offer some protection against rising interest rates, it also introduces interest rate risk. The filing does not provide specific details on the use of proceeds, but such debt issuances are typically used for general corporate purposes, acquisitions, or refinancing existing debt.

02—Key points

Key Highlights

  1. Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. entered into an underwriting agreement on August 9, 2018.
  2. The company is issuing $500,000,000 in aggregate principal amount of Senior Secured Floating Rate Notes due 2024.
  3. These new notes will be fungible with the $400,000,000 Senior Secured Floating Rate Notes issued on July 3, 2018, bringing the total to $900 million for this series.
  4. The underwriting agreement was made with Morgan Stanley & Co. LLC as the underwriter.
  5. The agreement includes customary provisions such as representations, warranties, covenants, conditions to closing, and indemnification.
  6. This filing serves as an 'Other Event' under Item 8.01 of the 8-K report.

03—Questions

Frequently Asked Questions

  1. What is the primary purpose of this 8-K filing?

    The primary purpose of this 8-K filing is to disclose the underwriting agreement for the issuance and sale of $500 million in Senior Secured Floating Rate Notes due 2024 by Charter Communications Operating, LLC and Charter Communications Operating Capital Corp.

  2. How much new debt is Charter Communications issuing?

    Charter Communications is issuing $500,000,000 in aggregate principal amount of Senior Secured Floating Rate Notes due 2024.

  3. Are these new notes related to any previous issuances?

    Yes, these new notes will be fungible with the $400,000,000 Senior Secured Floating Rate Notes that were issued on July 3, 2018. This means they will be treated as part of the same debt series, bringing the total outstanding principal for this series to $900 million.

  4. Who is the underwriter for this debt issuance?

    Morgan Stanley & Co. LLC is the underwriter for this issuance of Senior Secured Floating Rate Notes due 2024.

04—Continue

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