Charter Prices $15.5 Bln Senior Notes

(RTTNews) - Charter Communications, Inc. (CHTR) said Thursday that its subsidiary, CCO Safari II, LLC, has priced $15.5 billion of senior secured notes due 2020, 2022, 2025, 2035, 2045 and 2055.

The 2020 Notes will bear an interest rate of 3.579% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $2.0 billion. The 2022 Notes will bear an interest rate of 4.464% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $3.0 billion. The 2025 Notes will bear an interest rate of 4.908% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $4.5 billion. The 2035 Notes will bear an interest rate of 6.384% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $2.0 billion. The 2045 Notes will bear an interest rate of 6.484% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $3.5 billion. The 2055 Notes will bear an interest rate of 6.834% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $500 million.

Charter plans to use the net proceeds from the sale of the Notes to partially finance Charter's previously announced transactions with Time Warner Cable Inc. (TWC) and Bright House Networks, LLC.

The proceeds from the offering of the Notes will be placed in escrow at CCO Safari II, LLC until the closing of the transaction between Charter and Time Warner Cable Inc., at which time the Notes will be assumed by Charter's subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp.

Charter expects to close the offering of the Notes on July 23.