Liberty Broadband borrows $359M from Charter; subsidiary waives margin loan adjustment rights

Liberty Broadband Corp

Initial term loan of $359M from Charter at Term SOFR + 2.00%, maturing ~6 months after merger close or termination.
Proceeds plus Charter's share repurchases used to repay $617M in principal and interest under margin loan facility.
Loan secured by equity interests of certain wholly owned subsidiaries; prepayable without penalty.
SPV subsidiary entered Limited Waiver with BNP Paribas, waiving Share Price Event adjustments for up to six months.
Loan guaranteed by Liberty Broadband's wholly owned subsidiaries; subject to customary covenants and events of default.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Liberty Broadband Corp entered into Loan Agreement with Charter Communications, Inc. valued at $359 million term loan facility, interest at Term SOFR plus 2.00% (effective 2026-05-12).

Action: entry
Agreement: credit facility
Counterparty: Charter Communications, Inc.
Value: $359 million term loan facility, interest at Term SOFR plus 2.00%
Effective: 2026-05-12

Exact text from the filing

Item 1.01. Entry into a Material Definitive Agreement. Pursuant to (i) the Agreement and Plan of Merger (the “ Merger Agreement ”), dated as of November 12, 2024, by and among Liberty Broadband Corporation, a Delaware corporation (“ Liberty Broadband ”), Charter Communications, Inc., a Delaware corporation (“ Charter ”), Fusion Merger Sub 1, LLC, a Delaware limited liability company and wholly owned subsidiary of Charter (“ Merger LLC ”), and Fusion Merger Sub 2, Inc., a Delaware corporation and wholly owned subsidiary of Merger LLC, and (ii) the Amendment No. 1 to the Second Amended and Restated Stockholders Agreement and the Letter Agreement (as amended by the Letter Agreement, dated March 5, 2026, the “ Stockholders and Letter Agreement Amendment ”), dated as of November 12, 2024, Charter, under certain conditions set forth in the Stockholders and Letter Agreement Amendment, agreed to provide term loans to Liberty Broadband. On May 12, 2026, Liberty Broadband and Charter entered int

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Liberty Broadband Corp filing history →

Source: SEC EDGAR

accession 0001104659-26-061190

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