Charter to issue $750M in senior notes
Charter Communications plans to pay down its debt by selling $750 million worth of seven-year senior notes.
The nation's fourth-largest cable operator said the notes would be due in 2017. In addition to repaying money it borrowed, Charter said it would use the proceeds for "general corporate purposes."
Along with the 2017 notes, Charter has started an optional prepayment offer to prepay up to $750 million of Term B-1 loans ($3.3 billion aggregate principal amount) under the Amended and Restated Credit Agreement.
Charter emerged from its voluntary Chapter 11 bankruptcy in November but still has a significant amount of debt.
Last week, Charter's Class A stock resumed trading on the Nasdaq stock market.