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Charter Prices $500 Million Senior Secured Notes

STAMFORD, Conn., Aug. 9, 2018 /PRNewswire/ — Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, "Charter") today announced that its subsidiaries, Charter Communications Operating, LLC ("CCO") and Charter Communications Operating Capital Corp. (together with CCO, the "Issuers"), have priced $500 million in aggregate principal amount of senior secured floating rate notes due 2024 (the "Floating Rate Notes") which will be issued at a price of 101.479% of the aggregate principal amount. The Floating Rate Notes will form a part of the same series as the Issuers’ senior secured floating rate notes due 2024 issued July 3, 2018, and which bear interest at a rate of three-month LIBOR, reset quarterly, plus 165 basis points.

Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.)

Charter intends to use the net proceeds from the sale of the Floating Rate Notes for general corporate purposes, including to fund potential buybacks of Class A common stock of Charter or common units of Charter Communications Holdings, LLC and to repay certain indebtedness, including outstanding revolver balances. Charter expects to close the offering of the Floating Rate Notes on August 15, 2018, subject to customary closing conditions.

The offering and sale of the Floating Rate Notes were made pursuant to an effective automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the "SEC").

The offering was made only by means of a prospectus supplement dated August 9, 2018 and the accompanying base prospectus, copies of which, when available, may be obtained on the SEC’s website at www.sec.gov.

This news release is neither an offer to sell nor a solicitation of an offer to buy the Floating Rate Notes and shall not constitute an offer, solicitation or sale, nor is it an offer to purchase, or the solicitation of an offer to sell the Floating Rate Notes in any jurisdiction in which such offer, solicitation, or sale is unlawful.

About Charter
Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband communications company and the second largest cable operator in the United States. Charter provides a full range of advanced residential broadband services, including Spectrum TV® programming, Spectrum Internet®, and Spectrum Voice®. Under the Spectrum Business® brand, Charter provides scalable, and cost-effective broadband communications solutions to small and medium-sized business organizations, including Internet access, business telephone, and TV services. Through the Spectrum Enterprise brand, Charter is a national provider of scalable, fiber-based technology solutions serving many of America’s largest businesses and communications service providers. Charter’s advertising sales and production services are sold under the Spectrum Reach® brand. Charter’s news and sports networks are operated under the Spectrum Networks brand. More information about Charter can be found at newsroom.charter.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial.  Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations.  Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the SEC.  Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity," "tentative," "positioning," "designed," "create," "predict," "project," "initiatives," "seek," "would," "could," "continue," "ongoing," "upside," "increases" and "potential," among others.

All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement.  We are under no duty or obligation to update any of the forward-looking statements after the date of this communication.

 

SOURCE Charter Communications, Inc.