Cable Operators

Charter Closes Notes Offering

4/27/2004 10:33 AM Eastern

Charter Communications Inc. said Tuesday that its $1.5 billion senior-notes offering has closed.

The MSO said its indirect subsidiaries -- Charter Communications Operating LLC and Charter Communications Operating Capital Corp. -- have closed on the issuance of $1.1 billion in 8% senior second lien notes due 2012 and $400 million in 8 3/8% senior second lien notes due 2014 for estimated proceeds of approximately $1.5 billion in a private transaction.

Charter Operating is using net proceeds from the sale-- together with 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.

June