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CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Regulation FD Disclosure (Feb 6, 2020)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed February 6, 2020
Period End
February 3, 2020
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 ’16Dec ’16
  2. Material agreement8-K · Jan ’19Jan ’19
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed February 6, 2020. Cited figures are marked; the original filing is the authoritative source.

Charter Communications, Inc. (CHTR) through its subsidiaries CCO Holdings, LLC and CCO Holdings Capital Corp., announced a significant debt offering and redemption initiative via an 8-K filing on February 6, 2020.

The company entered into a purchase agreement for the issuance and sale of $1.65 billiona in aggregate principal amount of 4.500% Senior Notes due 2030. This offering aims to refinance existing debt, specifically targeting the redemption of 5.125% Senior Notes due 2023, 5.750% Senior Notes due 2023, and 5.750% Senior Notes due 2024. The proceeds will also support general corporate purposes, including potential share buybacks of Charter's Class A common stock or common units.

02—Key points

Key Highlights

  1. Issuance of $1.65 billion in 4.500% Senior Notes due 2030 by CCO Holdings, LLC and CCO Holdings Capital Corp.
  2. Purpose of the offering includes refinancing existing debt and general corporate purposes.
  3. Specific intention to redeem all outstanding 5.125% Senior Notes due 2023, 5.750% Senior Notes due 2023, and 5.750% Senior Notes due 2024.
  4. Proceeds may also be used for potential buybacks of Charter Communications' Class A common stock or common units.
  5. The redemption of existing notes is conditional upon the successful consummation of the new note offering.
  6. The filing includes a press release dated February 3, 2020, detailing the notes offer.

03—Questions

Frequently Asked Questions

  1. What is the primary purpose of the new debt issuance?

    The primary purpose of the new debt issuance is to refinance existing, higher-interest rate debt and for general corporate purposes. Specifically, it aims to redeem the 5.125% Senior Notes due 2023, 5.750% Senior Notes due 2023, and 5.750% Senior Notes due 2024.

  2. What is the total amount of the new debt offering?

    CCO Holdings, LLC and CCO Holdings Capital Corp. entered into a purchase agreement for the issuance and sale of an aggregate of $1,650,000,000 (or $1.65 billion) principal amount of 4.500% Senior Notes due 2030.

  3. Will existing noteholders be affected by this offering?

    Yes, holders of the 5.125% Senior Notes due 2023, 5.750% Senior Notes due 2023, and 5.750% Senior Notes due 2024 (collectively, the 'Notes to be Redeemed') will be subject to redemption, provided the new note offering is successfully consummated.

  4. Are there any potential uses for the proceeds beyond debt repayment?

    Yes, in addition to repaying specific existing debt, the proceeds from the offering may also be used to fund potential buybacks of Class A common stock of Charter Communications, Inc. or common units of Charter Communications Holdings, LLC.

04—Continue

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