Cable Operators

GE Lights Up $284M in Charter Funding

5/12/2004 7:31 AM Eastern

General Electric Co.’s GE Commercial Finance's Global Media & Communications unit said Wednesday that it has committed $284 million in financing to Charter Communications Inc.’s Charter Communications Operating LLC subsidiary.

The financing is part of a $6.5 billion facility that will be used by the MSO to restructure and consolidate existing debt.

“The amended and increased facility greatly simplifies our financing structure, improves our liquidity and represents a crucial step in our continuing strategy to improve our balance sheet,” Charter executive vice president of finance and strategy Derek Chang said in a prepared statement.

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