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Charter Offers $1 Billion Senior Unsecured Notes And Announces Bank Debt Financings

STAMFORD, Conn., April 19, 2013 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) ("Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. (collectively, "CCO Holdings"), intend to publicly offer $1 billion in aggregate principal amount of senior unsecured notes ("the Notes") due 2024.

(Logo: http://photos.prnewswire.com/prnh/20110526/AQ10195LOGO)

The offering and sale of the notes will be made pursuant to a registration statement on Form S-3 previously filed with the Securities and Exchange Commission ("SEC"), as amended. BofA Merrill Lynch will act as the Lead Bookrunning Manager for the offering. The offering will be made only by means of a prospectus supplement dated April 19, 2013 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 BofA Merrill Lynch, 222 Broadway, 11 th Floor, New York, NY, Attention: Prospectus Department, or email: dg.prospectus_requests@baml.com.

Charter intends to use the net proceeds from the sale of the Notes for general corporate purposes and to finance a tender offer or redemption by its subsidiaries of the outstanding 7.875% senior notes due 2018 of CCO Holdings. CCO Holdings anticipates launching a tender offer later today, which Charter expects will be the subject of a separate press release.

In parallel, the Company has announced that its subsidiary, Charter Communications Operating, LLC ("Charter Operating") has launched a new Term Loan F, totaling $1.2 billion and due 2021. The proceeds from Term Loan F will be used, together with other funds, to refinance $527 million principal amount of Term Loan C due 2016, and $744 million principal amount of Term Loan D due 2019.

The Company also announced that Charter Operating is seeking to refinance its existing $741 million Term Loan A with a $750 million Term Loan A-1. The Term Loan A-1 is expected to be due in 2018 and to be priced at par with a coupon of LIBOR plus 200 basis points.

Charter Operating is also seeking to increase the size of its Revolving Credit Facility by $150 million to $1.3 billion and extend the facility's maturity to 2018. Additionally, the Revolving Credit Facility is expected to price at LIBOR plus 200 basis points for drawn amounts, with a 30 basis point commitment fee on undrawn Revolving Credit Facility commitments.

The Company also announced that a new Term Loan E Facility was syndicated in connection with its Amended and Restated Credit Agreement, dated April 11, 2012, providing for $1.5 billion of term loans with a final maturity date of August 1, 2020. Proceeds will be used to fund the previously announced acquisition of Bresnan Broadband Holdings, LLC. Pricing on the Term Loan E was set at LIBOR plus 225 basis points, with a 75 bps LIBOR floor. The loans would be issued with 0.5% of original issue discount. The Term Loan E facility is subject to a delayed draw ticking fee accruing until the funding of the loan or termination of the commitments.

This press release is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of the Notes or any Loans in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

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