Charter Communications, Inc. (NASDAQ: CHTR) said its subsidiary, CCOH Safari, LLC, has closed on the sale of USD2.5 billion of senior unsecured notes due 2026.
The notes total USD2.5 billion in aggregate principal amount and bear an interest rate of 5.750 percent per annum. The notes were issued at par.
Charter said it intends to use the net proceeds to partially finance Charter´s previously announced transactions with Time Warner Cable Inc. and Bright House Networks, LLC. The proceeds from the offering of the notes were placed in escrow at CCOH Safari, LLC and will remain in escrow until the closing of the transaction between Charter and Time Warner Cable Inc., at which time the notes will be assumed by Charter´s subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp.
Charter is a leading broadband communications company and the fourth-largest cable operator in the United States. Charter provides a full range of advanced broadband services, including Spectrum TVâ¢ video entertainment programming, Spectrum Internetâ¢ access, and Spectrum Voiceâ¢.