Charter Communications announced yesterday that it had received the required votes from lenders to amend its existing $8.17 billion senior secured credit facilities to allow for the creation of a new revolving facility, as well as the extension of maturities on some of its debt.

As a result, Charter said it expects to extend approximately $3 billion of existing term loan maturities to September 2016, a two-and-a-half year maturity extension from the existing term loan maturities.

Pursuant to the amendments, a new revolving credit facility of at least $1.2 billion will be created and will mature in March 2015, a two-year maturity extension from the existing revolving credit facility.

The deal had the approval of lenders who were opposed to Charter’s Chapter 11 reorganization plan that was announced last year. Charter filed for Chapter 11 in March 2009.

Upon the closing of Charter’s amendments, Banc of America and J.P. Morgan Chase Bank agreed to drop the pending appeal of the company’s order of confirmation before the District Court for the Southern District of New York, as well as to waive any objections to the company's order of confirmation issued by the United States Bankruptcy Court for the Southern District of New York.

Charter said it expects to close on these transactions by March 31, subject to meeting customary conditions.

Banc of America Securities, Citigroup Global Markets, Credit Suisse Securities (USA), Deutsche Bank Securities, GE Capital Markets, J.P. Morgan Securities and UBS Securities are serving as joint lead arrangers and joint bookrunners, while US Bank National Association is serving as senior managing agent on the transaction.