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Charter launches $1.5 billion seven-year first-lien term loan
By Paul A. Harris
Portland, Ore., April 1 - Charter Communications Operating, LLC launched a $1.5 billion seven-year first-lien term loan on Monday, according to a market source.
The deal is announced with a 250 basis points spread to Libor and a 0.75% Libor floor. A 50 cent original issue discount takes the offering price to 99.50.
There is 101 soft call protection for six months.
Proceeds will be used to help fund the acquisition of Optimum West.
Charter Communications Inc. is a St. Louis-based provider of cable TV, internet and telecommunications services.
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