Charter trims term loan B-4 to $2 billion, firms OID at 99.5

By Sara Rosenberg

New York, Dec. 1 – Charter Communications Operating LLC downsized its seven-year term loan B-4 to $2 billion from roughly $2.3 billion and set the original issue discount at 99.5, the wide end of the 99.5 to 99.75 talk, according to a market source.

As before, the term loan is priced at SOFR plus 200 basis points with no floor and no CSA, and has 101 soft call protection for six months.

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

Recommitments were scheduled to be due at 4:45 p.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.

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