Charter said on May 9, 2024 that its subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp., began a cash tender offer for 4.908% senior secured notes due 2025, with a combined aggregate purchase price cap of $1.7 billion, excluding accrued and unpaid interest and fees and expenses.

1. 01

   Charter said on May 9, 2024 that its subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp., began a cash tender offer for 4.908% senior secured notes due 2025, with a combined aggregate purchase price cap of $1.7 billion, excluding accrued and unpaid interest and fees and expenses.

2. 02

   The company said the tender offer will expire at 5 p.m. New York City time on June 7, 2024, unless extended or terminated early, and that the withdrawal deadline and Early Tender Time are 5 p.m. New York City time on May 22. It expects the Early Settlement Date as early as May 24 and the Final Settlement Date on June 11.

3. 03

   Charter said holders who validly tender before the Early Tender Time and have their notes accepted will receive the Total Offer Consideration, which includes the Early Tender Premium, while later tenders will receive the Base Offer Consideration. The fixed spread is +30 basis points, and the Early Tender Premium is $30.00 per $1,000 principal amount.

4. 04

   The company said the outstanding principal amount of the notes subject to the tender offer is $4,500,000,000, and that the tender offer is conditioned on the satisfaction or waiver of conditions, including completion of the offering of new senior secured notes. It said the tender offer is not conditioned on any minimum amount of notes being tendered and may be amended, extended or terminated.

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Original filing

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