01—Abstract
Summary
Summary of the 8-K filed September 18, 2019. Cited figures are marked; the original filing is the authoritative source.
Charter Communications, Inc. (CHTR) announced on September 18, 2019, through its subsidiaries CCO Holdings, LLC and CCO Holdings Capital Corp., the commencement of a cash tender offer for all of its outstanding 5.250%a senior notes due 2021.
This tender offer is contingent upon the successful completion of a private offering of senior notes by the Issuers, which began the previous day. The offer provides a specific price for the notes, including accrued interest, and outlines the expiration and anticipated settlement dates. Additionally, the company has issued a notice of conditional redemption for any notes not purchased in the tender offer, also contingent on the private offering.
Investors should note that this 8-K filing is primarily for disclosure purposes and is not deemed "filed" under certain SEC provisions, meaning it may not be incorporated by reference into other filings. The primary purpose is to inform stakeholders about the debt management activities related to refinancing existing debt.
02—Key points
Key Highlights
- Charter Communications initiated a cash tender offer for its 5.250% senior notes due 2021.
- The tender offer is conditional on the successful completion of a private offering of senior notes.
- The purchase price for the tendered notes is $1,001.25 per $1,000 principal amount, plus accrued interest.
- The tender offer is set to expire on September 27, 2019, with an anticipated settlement date of October 1, 2019.
- A conditional redemption notice has been issued for any notes not acquired through the tender offer.
- The company is using this filing for Regulation FD disclosure regarding these debt transactions.
03—Questions
Frequently Asked Questions
What is Charter Communications doing with its 5.250% senior notes due 2021?
Charter Communications, through its subsidiaries CCO Holdings, LLC and CCO Holdings Capital Corp., has launched a cash tender offer to purchase all of these notes. They have also issued a conditional redemption notice for any notes that remain outstanding after the tender offer.
What is the price Charter is offering for these notes?
The offer price is $1,001.25 for every $1,000 principal amount of notes validly tendered and accepted, in addition to any accrued and unpaid interest from the last payment date up to the settlement date.
Are there any conditions to this tender offer?
Yes, the tender offer is contingent upon the completion of a private offering of senior notes that the Issuers commenced on September 17, 2019. The redemption of any remaining notes is also conditional on this private offering.
When does the tender offer expire and when will payment be made?
The tender offer is scheduled to expire on September 27, 2019, at 5:00 PM New York City time. The anticipated settlement date for the accepted notes is October 1, 2019.
04—Continue