Charter talks $1.5 billion deal: 8 1/8% on eight-year notes, 8 3/8% on 10-year notes

By Paul A. Harris

St. Louis, April 16 - Price talk emerged Friday on Charter Communications Operating LLC/Capital Corp.'s combined $1.5 billion offering of senior secured second lien notes in two tranches (B-), according to a market source.

The deal is expected to price on Tuesday.

Talk is in the area of 8 1/8% on the eight-year bullets. Meanwhile talk is in the area of 8 3/8% on the 10-year notes, which are non-callable for five years.

JP Morgan, Banc of America Securities, Citigroup and Credit Suisse First Boston are joint bookrunners on the Rule 144A offering.

Proceeds will be used to refinance subsidiaries' bank debt.

The prospective issuer is a St. Louis-based cable television and communications services provider.

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