Chicago, Nov. 19 – Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. priced $3 billion of notes in three parts on Thursday, according to a press release.
The issuer sold $1 billion of 2.3% senior secured notes due 2032 at 99.786.
A second tranche of $650 million of 3.7% senior secured notes due 2051 were sold as an add-on to an existing issue from April 17, priced at 100.791.
And, a third part of $1.35 billion of senior secured notes due 2061 priced with a coupon of 3.85% at 99.882.
The notes (Ba1/BBB-/BBB-) have a make-whole call and a par call.
Bookrunners for the offering are Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
Proceeds will be used for general corporate purposes, including potential stock buybacks and debt repayment.
Charter Communications is a Stamford, Conn.-based telecommunications and mass media company.
| Issuer: | Charter Communications Operating, LLC and Charter Communications Operating Capital Corp.
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| Issue: | Senior secured notes
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| Amount: | $3 billion
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| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
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| Call option: | Make-whole call and then par call
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| Pricing date: | Nov. 19
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| Settlement date: | Dec. 4
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| Ratings: | Moody’s: Ba1
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| S&P: BBB-
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| Fitch: BBB-
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| 2032 notes
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| Amount: | $1 billion
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| Maturity: | 2032
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| Coupon: | 2.3%
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| Price: | 99.786
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| 2051 add-on
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| Amount: | $650 million, add-on
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| Maturity: | 2051
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| Coupon: | 3.7%
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| Price: | 100.791
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| 2061 notes
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| Amount: | $1.35 billion
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| Maturity: | 2061
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| Coupon: | 3.85%
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| Price: | 99.882
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