The US cable operator Charter Communications announced yesterday that its subsidiaries, CCO Holdings and CCO Holdings Capital Corp, have made a public offering of US$1.5bn of senior unsecured notes due in 2021.
The note will bear an interest rate of 6.5%…
The US cable operator Charter Communications announced yesterday that its subsidiaries, CCO Holdings and CCO Holdings Capital Corp, have made a public offering of US$1.5bn of senior unsecured notes due in 2021.
The note will bear an interest rate of 6.5% per year and is priced at 100%.
Charter said that the net proceeds of the offering would be approximately US$1.481bn after deducting underwriting discounts and commissions.
It said that it intended to use the net proceeds from the sale of the notes to repay an outstanding term loan, revolver borrowings under its subsidiary’s credit facility and for general corporate purposes.
The US$1.5bn figure was an increase on the original amount of US$1bn that Charter had announced earlier in the day.
Charter expects the offering to close on 10 May.
The lead bookrunner was UBS.
