Charter talks $1 billion tap of 4½% notes due 2032 at 103-103.25

By Paul A. Harris

Portland, Ore., Oct. 7 – Charter Communications, Inc. announced a $1 billion fungible add-on to the CCO Holdings LLC/CCO Holdings Capital Corp. 4½% senior notes due May 1, 2032 (existing ratings B1/BB/BB+), according to market sources.

Early guidance is 103 to 103.25.

Deutsche Bank Securities Inc. is leading the Rule 144A and Regulation S deal.

The notes become callable on May 1, 2026 at 102.25.

The Stamford, Conn.-based telecommunications and mass media company plans to use the proceeds for general corporate purposes, including debt repayment, as well as to fund potential buybacks of class A common stock of Charter or common units of Charter Communications Holdings, LLC.

The original $1.4 billion issue priced in March 2020.

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