Charter gets tenders for all $250 million 8% notes issued by Bresnan

By Angela McDaniels

Tacoma, Wash., June 25 - Holders tendered all $250 million of Bresnan Broadband Holdings, LLC's 8% senior notes due 2018 in a tender offer held by Charter Communications, Inc. indirect subsidiary Charter Communications Operating, LLC, according to a Charter news release.

Holders had tendered all of the notes by 5 p.m. ET on June 21, the early tender/consent deadline.

The total purchase price will be $1,093.60 for each $1,000 principal amount of notes, which includes a $30.00 premium per note, plus accrued interest up to the settlement date, which is expected to be July 1.

The offer began June 10 and was scheduled to end at 11:59 p.m. ET on July 8.

Charter also sought consents to amend the notes to eliminate substantially all of restrictive covenants and some events of default.

The company received consents from holders of 100% of the notes and has entered into the proposed amendments, which will only become effective once Charter's acquisition of Bresnan is completed.

The tender offer is also conditioned on the completion of the acquisition, which is expected to close on July 1.

Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2476) is the dealer manager. Global Bondholder Services Corp. (866 924-2200 or 212 430-3774) is the information agent.

Charter Communications is a St. Louis-based broadband communications company. Bresnan is a manager of cable operating systems in Colorado, Montana, Wyoming and Utah.

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