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CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Corporate Update (Jan 17, 2019)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed January 17, 2019
Period End
January 14, 2019
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 · Dec ’17Dec ’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 January 17, 2019. Cited figures are marked; the original filing is the authoritative source.

Charter Communications, Inc. (CHTR) announced a significant debt financing event through its operating subsidiaries.

On January 14, 2019, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. entered into an underwriting agreement to issue and sell a combined $2.0 billiona in senior secured notes. This issuance includes $1.25 billion of 5.050% Senior Secured Notes due 2029 and $750 million of 5.750% Senior Secured Notes due 2048. The new debt offering is structured as senior secured notes, indicating they are backed by collateral, which typically lowers borrowing costs and risk for investors.

The 2048 Notes will be fungible with existing notes of the same series issued in April 2018. This strategic move suggests the company is actively managing its capital structure, potentially to fund operations, capital expenditures, or refinance existing debt.

02—Key points

Key Highlights

  1. Charter Communications issuing $2.0 billion in new senior secured notes.
  2. Issuance comprises $1.25 billion of 5.050% Senior Secured Notes due 2029.
  3. Issuance comprises $750 million of 5.750% Senior Secured Notes due 2048.
  4. The 2048 Notes will be fungible with the existing 5.750% Senior Secured Notes due 2048 issued in April 2018.
  5. The debt offering was facilitated through an underwriting agreement with Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. as representatives.
  6. This event is classified under 'Other Events' (Item 8.01) in the 8-K filing.
  7. The filing was made on January 17, 2019, detailing an agreement dated January 14, 2019.

03—Questions

Frequently Asked Questions

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

    This 8-K filing is primarily to report on an 'Other Event' (Item 8.01), specifically detailing the underwriting agreement entered into by Charter Communications' operating subsidiaries for the issuance of $2.0 billion in new senior secured notes.

  2. What are the terms of the new debt issuance?

    Charter Communications is issuing $1.25 billion of 5.050% Senior Secured Notes due 2029 and $750 million of 5.750% Senior Secured Notes due 2048. These are senior secured notes, meaning they are backed by collateral.

  3. Why is Charter Communications issuing new debt?

    The filing does not explicitly state the purpose for the debt issuance. However, such issuances are typically used for general corporate purposes, funding capital expenditures, acquisitions, refinancing existing debt, or managing the company's overall capital structure.

  4. How does this debt issuance affect existing bondholders?

    The issuance of additional 5.750% Senior Secured Notes due 2048, which will be fungible with the existing series, could potentially impact the market price of those existing notes due to increased supply. For holders of the new notes, they are senior secured obligations, ranking equally with other senior secured debt.

04—Continue

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