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Charter units propose $1B debt offering


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Charter units propose $1B debt offering

CharterCommunications Inc. units CCO Holdings LLC and CCO Holdings CapitalCorp. proposed a $1 billion offering of senior unsecured notes due 2026.

The company said April 7 that it intends to use the netproceeds to repurchase or redeem a portion of the issuers' outstanding 7.000%senior notes due 2019 and 7.375% senior notes due 2020 and pay related fees andexpenses.

Additionally, Charter intends to use the proceeds from thecompany's February 2016 issuance of $1.7 billion of senior unsecured notes due2024 for one or more of the following: to repurchase or redeem any of theissuers' outstanding 7.000% senior notes due 2019 and 7.375% senior notes due2020 and pay any related fees and expenses; to repurchase or redeem a portionof the issuers' outstanding 6.500% senior notes due 2021 and pay related feesand expenses; and for general corporate purposes.

Any redemption or repurchase of the issuers' outstanding6.500% senior notes due 2021 would not take place until after the companydetermines the amount, if any, of the incremental cash proceeds to stockholders if they were to elect $115 per share in cash rather than $100 pershare in connection with the previously announced transaction with the company.