Charter Announces Offering, Amendment3/31/2004 4:17 AM Eastern
Charter Communications Inc. made two financial announcements Wednesday.
The MSO said its indirect subsidiaries -- Charter Communications Operating LLC and Charter Communications Operating Capital Corp. -- will offer senior second lien notes due 2014 for estimated proceeds of approximately $1.5 billion in a private transaction.
Charter Operating will use net proceeds from this proposed offering -- together with anticipated new borrowings under its proposed amended bank-credit facilities -- to refinance the bank debt of its subsidiaries: CC VI Operating Co. LLC, Falcon Cable Communications LLC and CC VIII Operating LLC.
Charter Communications also announced that Charter Operating will amend its existing $5.1 billion credit facilities to, among other things, expand the capacity of those facilities to approximately $6.5 billion.