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Charter Communications sells $1.25B in notes

Thu, 08/23/2012 - 3:31pm
The Associated Press

Charter Communications Inc. said Wednesday that it closed on the public sale of $1.25 billion of senior unsecured notes due 2022 for about $1.22 billion in proceeds.

The St. Louis-based cable-TV provider said the notes have an annual interest rate of 5.25 percent and were issued at a price of 99.026 percent of the aggregate principal amount.

Charter plans to use proceeds from the sale for general corporate purposes, including repayment of outstanding debt.

Charter shares fell 30 cents to $76.98 in afternoon trading.

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