US cableco Charter Communications has priced a public offering of US$1bn senior unsecured notes due 2023.
The notes will bear an interest rate of 5.125% and will be priced at par.
The amount of notes issued is US$250m higher than yesterday’s initial…
US cableco Charter Communications has priced a public offering of US$1bn senior unsecured notes due 2023.
The notes will bear an interest rate of 5.125% and will be priced at par.
The amount of notes issued is US$250m higher than yesterday’s initial announcement.
Deutsche Bank is acting as lead book-running manager, with BofA Merrill Lynch, Citigroup, Credit Suisse, UBS, JP Morgan and Barclays listed as joint book-running managers in an SEC filing.
The cableco said the notes will rank equally in right of payment with all of its existing and future senior unsecured debt.
Charter intends to use the net proceeds from the sale of the notes for general corporate purposes, including the repayment of existing bank debt.
Moody’s rated the issuance B1.
The company last tapped the bond market in August when it raised US$1.25bn by issuing 10-year 5.25% notes.
Charter offers television, internet and telephone services in 25 US states and says it is the country’s fourth-largest cableco.
