Charter to repay revolver debt with bond proceeds

By Sara Rosenberg

New York, Jan. 24 - Charter Communications Inc. plans to repay some borrowings under its revolving credit facility with proceeds from a proposed $400 million two-series senior notes offering, according to a company news release.

The first series of notes is expected to have interest payable in cash, or in kind, and will mature in 2013. The second series is expected to be issued on terms substantially identical to the issuers', CCH II, LLC, existing $1.6 billion outstanding 10¼% senior notes due 2010.

Charter is a St. Louis-based broadband communications company.

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