STAMFORD, Conn., Jan. 29,
2019 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ:
CHTR) (along with its subsidiaries, "Charter") today announced
that its subsidiary, Charter Communications Operating, LLC ("CCO")
entered into an amendment to its Credit Agreement raising a
$1.7 billion Term A-3 Loan and
increasing its revolving credit facility to $4.75 billion, from $4.0
billion. In addition, 86% of the existing Term A-2
Loan converted their outstanding Term A-2 Loans into the new Term
A-3 Loan, which matures on March 29, 2024 and 95% of the
$4.75 billion revolving credit
facility also matures on March 29,
2024. Remaining portions of the Term A-2 Loan and revolving
credit facility mature on March 31,
2023. Pricing on the Term A-3 Loan and the revolving credit
facility was set at LIBOR plus 150 basis points.
![Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.) Charter Communications Logo. (PRNewsfoto/Charter Communications, Inc.)](https://mma.prnewswire.com/media/76092/charter_communications_logo.jpg)
Charter intends to use the net proceeds from the new credit
facilities for general corporate purposes, including to fund
potential buybacks of Class A common stock of Charter or common
units of Charter Communications Holdings, LLC and to
repay certain indebtedness, including to repurchase, redeem or
repay at maturity Time Warner Cable, LLC's 8.250% senior
notes due 2019 and/or to repay a portion of the outstanding balance
under CCO's revolving credit facility.
Bank of America, N.A., Citigroup Global Markets Inc., Credit
Suisse Securities (USA) LLC,
Deutsche Bank Securities Inc., Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Mizuho Bank
Ltd., MUFG Bank, Ltd. (f/k/a The Bank of Tokyo-Mitsubishi UFG,
Ltd.)., RBC Capital Markets, TD Securities (USA) LLC and Wells Fargo Securities, LLC were
the Joint Lead Arrangers and Joint Bookrunners for the new
facilities.
About Charter
Charter Communications, Inc. (NASDAQ: CHTR) is a leading broadband
communications company and the second largest cable operator in
the United States. Charter
provides a full range of advanced residential broadband services,
including Spectrum TV® programming, Spectrum Internet®, Spectrum
Voice®, and Spectrum Mobile™. Under the Spectrum Business® brand,
Charter provides scalable, and cost-effective broadband
communications solutions to small and medium-sized business
organizations, including Internet access, business telephone, and
TV services. Through the Spectrum Enterprise brand, Charter is a
national provider of scalable, fiber-based technology solutions
serving many of America's largest businesses and communications
service providers. Charter's advertising sales and production
services are sold under the Spectrum Reach® brand. Charter's news
and sports networks are operated under the Spectrum Networks brand.
More information about Charter can be found at
newsroom.charter.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This communication includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended, regarding, among other things, our plans,
strategies and prospects, both business and financial.
Although we believe that our plans, intentions and expectations as
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
SEC. Many of the forward-looking statements contained in this
communication 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," "create,"
"predict," "project," "initiatives," "seek," "would," "could,"
"continue," "ongoing," "upside," "increases" and "potential," among
others.
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 communication.
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SOURCE Charter Communications, Inc.