Charter launches $2.3 billion term loan B-4 at SOFR plus 200 bps

By Sara Rosenberg

New York, Nov. 27 – Charter Communications Operating LLC launched a roughly $2.3 billion seven-year term loan B-4 (Ba1/BBB-) that is talked at SOFR plus 200 basis points with a 0% floor and an original issue discount of 99.5 to 99.75, according to a market source.

The term loan has 101 soft call protection for six months and no credit spread adjustment, the source said.

BofA Securities Inc. is the left lead arranger on the deal.

Commitments are due at 10 a.m. ET on Friday, the source added.

Proceeds will be used to refinance an existing term loan B-1 due 2025.

Charter is a Stamford, Conn.-based cable telecommunications company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.