Charter Wraps Up Debt Offering

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Charter Communications Inc. last Tuesday wrapped up a debt offering by two of its subsidiaries: $6.86 billion in total principal amount of old notes from CCH I LLC and CCH I Holdings LLC had been tendered, representing about 81% of the notes.

Charter said about $3.39 billion aggregate principal amount of old notes that mature in 2009 and 2010 and around $3.47 billion aggregate principal amount of old notes that mature in 2011 and 2012 were tendered.

About $3.53 billion principal amount of new 11% senior secured notes due 2015 of CCH I and some $2.53 billion in aggregate principal amount of various series of senior accreting notes due 2014 and 2015 of CIH are expected to be issued, and about $776 million aggregate principal amount of old 2009-10 notes and around $883 million aggregate principal amount of old 2011-12 notes will remain outstanding.

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