ST. LOUIS, Aug. 8, 2012 /PRNewswire/ -- Charter
Communications, Inc. (NASDAQ: CHTR) (along with its
subsidiaries, the "Company" or "Charter") today announced that its
subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp.,
have priced a public offering of $1.25
billion in aggregate principal amount of senior unsecured
notes due 2022. The notes will bear an interest rate of 5.25
percent per annum and will be issued at a price of 99.026 percent
of the aggregate principal amount.
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The notes will result in net proceeds to the Company of
approximately $1.22 billion after
deducting underwriting discounts and commissions. Charter intends
to use the net proceeds from the sale of the notes for general
corporate purposes, including repaying amounts outstanding under
the Charter Communications Operating, LLC revolving credit
facility, to pay fees and expenses related to this offering and to
fund the redemption of the CCH II, LLC 13.5% senior notes due 2016
on or before November 30, 2012. The
Company expects to close the offering on August 22, 2012, subject to customary
closing conditions. The offering and sale of the notes were
made pursuant to an automatic shelf registration statement on Form
S-3 previously filed with the Securities and Exchange Commission
("SEC") and prospectus supplement dated August 8, 2012.
Citigroup Global Markets Inc. acted as the Lead Bookrunning
Manager for the offering. The offering was made only by means of a
prospectus supplement and the accompanying base prospectus, copies
of which may be obtained on Charter's website at www.charter.com,
the SEC's website at www.sec.gov or by contacting Citigroup Global
Markets Inc., Attn: Prospectus Department, Brooklyn Army Terminal,
140 58th Street, 8th Floor, Brooklyn, New
York 11220, 877-858-5407, batprospectusdept@citi.com.
This news release is neither an offer to sell nor a solicitation
of an offer to buy any of the securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation, or sale is unlawful.
About Charter
Charter (NASDAQ: CHTR) is a leading broadband communications
company and the fourth-largest cable operator in the United States. Charter provides a full
range of advanced broadband services, including advanced Charter
TV® video entertainment programming, Charter Internet® access, and
Charter Phone®. Charter Business® similarly provides scalable,
tailored, and cost-effective broadband communications solutions to
business organizations, such as business-to-business Internet
access, data networking, business telephone, video and music
entertainment services, and wireless backhaul. Charter's
advertising sales and production services are sold under the
Charter Media® brand. More information about Charter can be found
at charter.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
(the "Securities Act"), and Section 21E of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), regarding, among
other things, our plans, strategies and prospects, both business
and financial. Although we believe that our plans, intentions and
expectations reflected in or suggested by these forward-looking
statements are reasonable, we cannot assure you that we will
achieve or realize these plans, intentions or expectations.
Forward-looking statements are inherently subject to risks,
uncertainties and assumptions including, without limitation, the
factors described under "Risk Factors" from time to time in our
filings with the Securities and Exchange Commission ("SEC"). Many
of the forward-looking statements contained in this release may be
identified by the use of forward-looking words such as "believe,"
"expect," "anticipate," "should," "planned," "will," "may,"
"intend," "estimated," "aim," "on track," "target," "opportunity,"
"tentative," "positioning," "designed," and "potential," among
others. Important factors that could cause actual results to differ
materially from the forward-looking statements we make in this
release are set forth in other reports or documents that we file
from time to time with the SEC, and include, but are not limited
to:
- our ability to sustain and grow revenues and free cash flow by
offering video, Internet, telephone, advertising and other services
to residential and commercial customers, to adequately meet the
customer experience demands in our markets and to maintain and grow
our customer base, particularly in the face of increasingly
aggressive competition, the need for innovation and the related
capital expenditures and the difficult economic conditions in
the United States;
- the development and deployment of new products and
technologies;
- the impact of competition from other market participants,
including but not limited to incumbent telephone companies, direct
broadcast satellite operators, wireless broadband and telephone
providers, digital subscriber line ("DSL") providers, and video
provided over the Internet;
- general business conditions, economic uncertainty or downturn,
high unemployment levels and the level of activity in the housing
sector;
- our ability to obtain programming at reasonable prices or to
raise prices to offset, in whole or in part, the effects of higher
programming costs (including retransmission consents);
- the effects of governmental regulation on our business;
- the availability and access, in general, of funds to meet our
debt obligations prior to or when they become due and to fund our
operations and necessary capital expenditures, either through (i)
cash on hand, (ii) free cash flow, or (iii) access to the capital
or credit markets; and
- our ability to comply with all covenants in our indentures and
credit facilities any violation of which, if not cured in a timely
manner, could trigger a default of our other obligations under
cross-default provisions.
All forward-looking statements attributable to us or any person
acting on our behalf are expressly qualified in their entirety by
this cautionary statement. We are under no duty or obligation to
update any of the forward-looking statements after the date of this
release.
SOURCE Charter Communications, Inc.