Charter Communications Inc. subsidiaries Charter Communications Operating LLC and Charter Communications Operating Capital Corp. priced a $1.5 billion offering of senior secured notes due 2050.
The notes will bear interest at a rate of 4.800% per annum and will be issued at a price of 99.436% of the aggregate principal amount.
Additionally, Charter subsidiaries CCO Holdings LLC and CCO Holdings Capital Corp. priced a $500 million offering of senior unsecured notes due 2030. The notes will form a part of the same series as the companies' senior unsecured notes due 2030 issued Oct. 1, which bear interest at a rate of 4.750% per annum. The notes will be issued at a price of 101.250% of the aggregate principal amount.
Charter intends to use the net proceeds for general corporate purposes, including to fund potential buybacks of class A common stock of Charter or common units of Charter Communications Holdings LLC and to repay certain debt. Charter expects to close the offering Oct. 24, subject to customary closing conditions.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. were joint book-running managers for the $1.5 billion notes offering.