regulatory
confidence high
sentiment neutral
materiality 0.25
Charter Communications transitions floating-rate notes from LIBOR to SOFR
CHARTER COMMUNICATIONS, INC. /MO/
- Trustee selected Three-Month CME Term SOFR as benchmark replacement for Senior Secured Floating Rate Notes due 2024.
- Change applies to interest periods with determination dates after June 30, 2023, per LIBOR Act and Federal Reserve regulations.
- Tenor spread adjustment for three-month LIBOR will be included as specified in the LIBOR Act.
- No financial impact disclosed; transition previously anticipated in 2022 10-K.