CHARTER COMMUNICATIONS, INC. /MO/ (CHTR): debt financing — Charter Communications enters Amendment No. 4 to credit agreement, adds $750M Term B-3 Loans

CHARTER COMMUNICATIONS, INC. /MO/

Incurred $750M Term B-3 Loans at SOFR + 2.25%; proceeds used to assign and cancel $600.6M of existing Term B-1/B-2 loans held by CoBank.
After amendment: Term B-1 Loans $2.3B, Term B-2 Loans $3.1B, Term B-3 Loans $750M; pricing on B-1/B-2 unchanged.
CoBank assigned its $21M Term B-1 and $579.6M Term B-2 loans to borrower, which were cancelled; CoBank becomes Term B-3 Lender.
Amortization payments on Rollover Term Loans reduced to $0; other credit terms unchanged.

item 1.01 item 2.03 item 9.01

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 term loan of $750 million with Bank of America, N.A. at SOFR plus 2.25%.

Instrument: term loan
Principal: $750 million
Counterparty: Bank of America, N.A.
Rate: SOFR plus 2.25%
Event: incurrence

Exact text from the filing

the aggregate amount of the Term B-3 Loans (as defined in the Amended Credit Agreement) is $750 million with a pricing of SOFR plus 2.25%.

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

CHARTER COMMUNICATIONS, INC. /MO/ amended Amendment No. 4 with Bank of America, N.A., as administrative agent; CoBank, ACB (effective 2023-03-23).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent; CoBank, ACB
Effective: 2023-03-23

Exact text from the filing

On March 23, 2023 (the “Closing Date”), Charter Communications Operating, LLC (“CCO”) entered into that certain Amendment No. 4 (“Amendment No. 4”) with Bank of America, N.A., as administrative agent (the “Administrative Agent”), CoBank, ACB, a federally chartered instrumentality of the United States of America, in its capacity as a Term B-1 Lender, Term B-2 Lender and Term B-3 Lender (“CoBank”) to the Amended and Restated Credit Agreement

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Source: SEC EDGAR

accession 0001104659-23-038343

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