Cahill Represents Underwriters in Charter Communications’ $3 Billion Notes Offering
Date: 05/14/24
Cahill represented the underwriters in connection with a public offering of $1.5 billion aggregate principal amount of 6.100% senior secured notes due 2029 and $1.5 billion aggregate principal amount of 6.550% senior secured notes due 2034 by Charter Communications Operating, LLC and Charter Communications Operating Capital Corp., wholly-owned subsidiaries of Charter Communications, Inc.
Proceeds from the offering were used to prepay borrowings outstanding under Charter Communications Operating, LLC’s existing senior secured term loan B-1 facility; to fund a concurrent cash tender offer to purchase up to $2.7 billion of the issuers’ outstanding 4.908% senior secured notes due 2025; and for general corporate purposes.
Charter Communications, Inc. (NASDAQ: CHTR) is a leading broadband connectivity company and cable operator serving more than 32 million customers in 41 states through its Spectrum brand.