The US’ fourth-largest cableco, Charter Communications, is offering U$1.5bn worth of senior unsecured notes due 2022 and 2024.
Proceeds from the issue will be used to finance the company’s previously-announced acquisition of cable systems serving…
The US’ fourth-largest cableco, Charter Communications, is offering U$1.5bn worth of senior unsecured notes due 2022 and 2024.
Proceeds from the issue will be used to finance the company’s previously-announced acquisition of cable systems serving approximately 1.5 million Time Warner Cable (TWC) video customers from rival Comcast.
Goldman Sachs, Credit Suisse, Deutsche Bank and Merrill Lynch, Pierce, Fenner & Smith are acting as joint bookrunning managers for the offering.
Earlier this year, Charter agreed to buy subscribers being divested by larger rivals Comcast and TWC to help them secure regulatory approvals for their planned US$45bn-plus merger.
The deal, the value of which has not been disclosed, will see Charter’s subscriber base increase to 5.7 million, making it the US’ second-largest cable operator.
The company has also agreed to contribute users to a new operator, GreatLand Connections, set to be hived off from Comcast.
In mid-September, Charter issued a US$3.5bn senior secured term loan, also to finance the deal.
