Bloomberg: Charter Includes Goldman Sachs, Credit Suisse For TWC Bid Funding

(RTTNews) - Charter Communications, Inc. (CHTR) has included Goldman Sachs Group Inc. (GS) and Credit Suisse Group AG (CS) to a list of banks that would lend the cable operator as much as $25 billion in its attempt to bid for Time Warner Cable Inc. (TWC), Bloomberg reported quoting people with knowledge of the matter.

The group of lenders is said to include Bank of America Corp. (BAC), Deutsche Bank AG (DB) and Barclays Plc (BARC, BCS.L). Charter has not signed a letter of commitment, but the banks have agreed to finance the bid. Charter met with the banks last week to set the terms for the funding.

Charter is believed to be planning to offer less than $135 for each Time Warner Cable share, valuing the company at about $62 billion, including debt in a cash and stock deal.

It is also possible that Charter will sell shares in a public offering. John Malone's Liberty Media Corp. (LMCA) is the largest shareholder of Charter. Liberty Media will contribute cash to maintain about a 27 percent holding in the new entity.

CHTR closed down 0.1 percent at $131.36 on Monday.

TWC settled up 0.5 percent at $132.09.