Charter Communications talks $750 million term D at Libor plus 300 bps

By Sara Rosenberg

New York, March 29 - Charter Communications Operating LLC launched its $750 million seven-year term loan D on Thursday with price talk of Libor plus 300 basis points with a 1% Libor floor and an original issue discount in the 99 area, according to a market source.

The company's $1.85 billion credit facility also includes a $1.1 billion five-year revolver.

Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and UBS Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance a term loan B-1 and term loan B-2 and some term loan C borrowings.

At Dec. 31, the company had a roughly $78 million term loan B-1 due March 6, 2014 priced at Libor plus 200 bps, a roughly $10 million term loan B-2 due March 6, 2014 priced at Libor plus 500 bps with a 3.5% Libor floor, and a roughly $3 billion term loan C due Sept. 6, 2016 priced at Libor plus 325 bps.

Charter is a St. Louis-based cable operator and broadband communications 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.