Charter closes bond
Cable operator Charter Communications announced on 10 May that its subsidiaries CCO Holdings and CCO Holdings Capital Corp have closed their US$1.5bn offering of senior unsecured notes due in 2021.
The notes, which bear an interest…
Charter closes bond
Cable operator Charter Communications announced on 10 May that its subsidiaries CCO Holdings and CCO Holdings Capital Corp have closed their US$1.5bn offering of senior unsecured notes due in 2021.
The notes, which bear an interest rate of 6.5% a year, priced at 100.
In a statement, Charter said that the net proceeds of the offering would be used to repay an outstanding term loan and revolver borrowings under its subsidiary’s credit facility, as well as for general corporate purposes.
The offering had initially been valued at US$1bn.
The lead bookrunner was UBS.
AT&T closes bond
AT&T confirmed that it had closed a US$3bn offering of notes due in 2016 and 2021, in an SEC filing dated 29 April.
The first tranche is worth US$1.75bn and due in 2016.
The note, which carries a coupon of 2.95%, priced at par.
The second is worth US$1.25bn and due in 2021. This note carries a coupon of 4.45% and priced at par.
The joint bookrunners were BoA Merrill Lynch, Citigroup, Goldman Sachs and Wells Fargo.
The filing said that the note would be used for general corporate purposes.
Earthlink in private bond offering
IP infrastructure and services provider Earthlink announced on 5 May that it would sell US$400m in senior notes due in 2019 in a private offering to institutional investors.
Net proceeds will be used to redeem up to US$255.8m of its 3.25% senior notes due in 2016. It may also use the proceeds for working capital and general corporate purposes, which could include potential acquisitions.
GCI set for senior notes
Alaska-based General Communications, Inc has announced that its subsidiary, ISP, fixed-line and cable operator GCI, will offer US$325m in senior notes.
In a statement on 11 May, GCI said the 6.75% senior unsecured notes were due in 2021 and priced at 100.
The offering is due to close on 20 May.
The company said the net proceeds from this bond offering would be used to conduct a cash tender offer and consent solicitation for “any or all” of its 7.25% senior unsecured notes due in 2014.
This offer closes at midnight on 6 June.
The dealer manager and solicitation agent for the transaction was Deutsche Bank.
