ST. LOUIS, Aug. 8, 2012 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, the "Company" or "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., have priced a public offering of $1.25 billion in aggregate principal amount of senior unsecured notes due 2022. The notes will bear an interest rate of 5.25 percent per annum and will be issued at a price of 99.026 percent of the aggregate principal amount.
The notes will result in net proceeds to the Company of approximately $1.22 billion after deducting underwriting discounts and commissions. Charter intends to use the net proceeds from the sale of the notes for general corporate purposes, including repaying amounts outstanding under the Charter Communications Operating, LLC revolving credit facility, to pay fees and expenses related to this offering and to fund the redemption of the CCH II, LLC 13.5% senior notes due 2016 on or before November 30, 2012. The Company expects to close the offering on August 22, 2012, subject to customary closing conditions. The offering and sale of the notes were made pursuant to an automatic shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission ("SEC") and prospectus supplement dated August 8, 2012.
Citigroup Global Markets Inc. acted as the Lead Bookrunning Manager for the offering. The offering was made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained on Charter's website at www.charter.com, the SEC's website at www.sec.gov or by contacting Citigroup Global Markets Inc., Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, 877-858-5407, firstname.lastname@example.org.This news release is neither an offer to sell nor a solicitation of an offer to buy any of the securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.
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