Charter Announces Results of Notes Offering


Charter Communications announced the results of the offer by its CCHC, CCH II and CCH II Capital subsidiaries to exchange up to $450 million of its 5.875% convertible senior notes due 2009.

The MSO said that as of the expiration of the convertible exchange offer at 11:59 p.m. (EST) Friday, $499.9 million aggregate principal amount of convertible notes were validly tendered, and it accepted $450 million for exchange, representing approximately 52.2% of the total principal amount of convertible notes outstanding.

Charter added that since the amount of convertible notes tendered exceeded the maximum amount the offerors would accept, the offerors pro rated the amount of convertible notes accepted, accepting 90% of the amount tendered by each holder, with unaccepted amounts to be promptly returned to holders.

Following the consummation of the offer, $412.5 million of convertible notes will remain outstanding, Charter said.