CHARTER COMMUNICATIONS, INC. /MO/ (CHTR): debt financing — Charter subsidiaries close $1.1B 7.375% senior notes due 2031; amend credit agreement to replace LIBOR with Term SOFR

CHARTER COMMUNICATIONS, INC. /MO/

Issued $1.1B aggregate principal 7.375% senior notes due 2031, priced at 100% of par via Rule 144A/Reg S.
Notes are unsecured, not guaranteed; interest payable March 1 and Sept 1 starting Sept 2023.
Make-whole call prior to March 2026; thereafter redeemable at scheduled prices; up to 40% callable at 107.375% with equity proceeds.
Amendment No.3 to credit agreement replaces LIBOR on Term B loans with Term SOFR +1.75% for $2.3B Term B-1 and $3.7B Term B-2.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CHARTER COMMUNICATIONS, INC. /MO/ incurred senior notes of $1.1 billion aggregate principal amount with The Bank of New York Mellon Trust Company, N.A., as trustee at 7.375% maturing due 2031.

Instrument: senior notes
Principal: $1.1 billion aggregate principal amount
Counterparty: The Bank of New York Mellon Trust Company, N.A., as trustee
Rate: 7.375%
Maturity: due 2031
Event: incurrence

Exact text from the filing

On February 13, 2023 (the “Closing Date”), CCO Holdings, LLC (“CCO Holdings”) and CCO Holdings Capital Corp. (together with CCO Holdings, the “CCOH Issuers”), subsidiaries of Charter Communications, Inc. (the “Company”), issued $1.1 billion aggregate principal amount of 7.375% Senior Notes due 2031 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CHARTER COMMUNICATIONS, INC. /MO/ entered into Tenth Supplemental Indenture with The Bank of New York Mellon Trust Company, N.A. valued at Issuance of $1.1 billion aggregate principal amount of 7.375% Senior Notes due 2031 (effective 2023-02-13).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Value: Issuance of $1.1 billion aggregate principal amount of 7.375% Senior Notes due 2031
Effective: 2023-02-13

Exact text from the filing

On February 13, 2023 (the “Closing Date”), CCO Holdings, LLC (“CCO Holdings”) and CCO Holdings Capital Corp. (together with CCO Holdings, the “CCOH Issuers”), subsidiaries of Charter Communications, Inc. (the “Company”), issued $1.1 billion aggregate principal amount of 7.375% Senior Notes due 2031 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.3

CHARTER COMMUNICATIONS, INC. /MO/ entered into Amendment No. 3 to the Amended and Restated Credit Agreement with Lenders party thereto and Bank of America valued at Amendment No. 3 to the Amended and Restated Credit Agreement (effective 2023-02-10).

Action: entry
Agreement: credit facility
Counterparty: Lenders party thereto and Bank of America
Value: Amendment No. 3 to the Amended and Restated Credit Agreement
Effective: 2023-02-10

Exact text from the filing

On February 10, 2023, Charter Communications Operating, LLC (“CCO”), CCO Holdings and certain of CCO’s subsidiaries entered into that certain Amendment No. 3 (“Amendment No. 3”) with the Lenders (as defined therein) party thereto and Bank of America

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Source: SEC EDGAR

accession 0001104659-23-022811

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