Charter to sell dollar benchmark 10.5-year notes in Monday drive-by

By Paul A. Harris

Portland, Ore., Feb. 3 – Charter Communications Inc. is making a benchmark dollar-denominated offering of CCO Holdings LLC/CCO Holdings Capital Corp. 10.5-year senior notes (expected ratings B1/BB/BB+), which are expected to price in a quick-to-market Monday trade, according to a market source.

Deutsche Bank Securities Inc. is the left lead bookrunner for the Rule 144A with registration rights offering. Other syndicate names are expected to be announced.

The notes come with five years of call protection.

The Stamford, Conn.-based broadband communications company plans to use the proceeds for general corporate purposes, including debt repayment, as well as potential buybacks of Charter class A common stock or Charter Holdings common units.

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