Charter Ups Debt Offering to $1 Billion

Photo courtesy of Business Insider

Charter Communications Inc. said its subsidiaries, CCO Holdings LLC and CCO Holdings Capital Corp., plan to increase its debt offering from $750 million to $1 billion in aggregate principal amount of senior unsecured notes due 2023.

The notes bear an interest rate of 5.125 percent per year and will be issued at a price of 100 percent of the aggregate principal amount.

Net proceeds from the deal will generate about $987 million after deducting underwriting discounts and commissions, the company said. Charter intends to use the net proceeds from the sale for general corporate purposes, including repaying existing bank debt. The company plans to close on the offering on Dec. 17. Read more on St. Louis Business Journal.

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