STAMFORD, Conn., June 25, 2013 /PRNewswire/ -- Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, the "Company" or "Charter") today announced the results of the tender offer by its indirect subsidiary, Charter Communications Operating, LLC ("CCO") to purchase for cash any and all of the outstanding 8.00% Senior Notes due 2018 (the "Notes") of Bresnan Broadband Holdings, LLC (formerly BBHI Acquisition LLC) (the "Issuer" or "Bresnan"), commenced June 10, 2013 and tendered and not withdrawn by 5:00 p.m., New York City time, on Friday, June 21, 2013 (the "Early Tender/Consent Deadline").
Holders of $250 million aggregate principal amount of the Notes have validly tendered their Notes. The aggregate purchase price (including a consent payment) will be approximately $275 million. Subject to certain conditions being met, the Notes validly tendered at or prior to the Consent Payment Deadline will be accepted for purchase on Monday, July 1, 2013.
Charter also solicited consents (the "Consent Solicitation") from the holders of the Notes to proposed amendments to, among other things, eliminate substantially all of the restrictive covenants and certain events of default, and eliminate or modify related provisions contained in the indenture governing the Notes. The Issuer has received consents from holders of 100% of the Notes as of the Early Tender/Consent Deadline and has entered into the proposed amendments to the indenture governing the Notes.The tender offer is scheduled to expire at 11:59 p.m. EST, on July 8, 2013, unless extended or earlier terminated (the "Expiration Date"). However, all outstanding Notes were tendered prior to the Early Tender/Consent Deadline. The consummation of the tender offer for the Notes is conditioned upon consummation of the acquisition of Bresnan (the "Acquisition"), which we expect to close on July 1, 2013. The proposed amendments will become effective with respect to the indenture governing the Notes only upon consummation of the Acquisition. Neither the Company, the Issuer, the Dealer Manager, the Information Agent nor any other person makes any recommendation as to whether holders of Notes should tender their Notes and deliver consents to the Proposed Amendments, and no one has been authorized to make such a recommendation.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV