Charter Wraps Up Notes Redemption

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Charter Communications Inc. said Monday that it has completed redemption on its notes issue.

The MSO completed the redemption of approximately $588 million (principal amount) of its 5.75% convertible senior notes due October at 101.15% of principal amount, plus accrued and unpaid interest to the date of redemption, Dec. 23.

Charter had agreed to the redemption using a portion of the proceeds of its Nov. 22 sale of approximately $862.5 million (original principal amount) of convertible senior notes due 2009 at the time of such notes sale.

The total cost of the redemption to the company was approximately $601.1 million.

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