Company Update (NASDAQ:CHTR): Charter Communications, Inc. Offers $2.5 Billion Senior Unsecured Notes

Charter Communications, Inc. (NASDAQ:CHTR) announced that its subsidiary, CCOH Safari, LLC, intends to offer $2.5 billion in aggregate principal amount of senior unsecured notes due 2026 (the “Notes”).

Charter intends to use the net proceeds from the sale of the Notes to partially finance Charter’s previously announced transactions with Time Warner Cable Inc. and Bright House Networks, LLC. The proceeds from the offering of the Notes will be placed in escrow at CCOH Safari, LLC until the closing of the transaction between Charter and Time Warner Cable Inc., at which time the Notes will be assumed by Charter’s subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp.

The Notes will be sold to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in reliance on Regulation S. The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

The offering is subject to, among other things, market conditions.

This news release is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. (Original Source)

Shares of Charter Communications closed yesterday at $190.10. CHTR has a 1-year high of $199 and a 1-year low of $142.37. The stock’s 50-day moving average is $185.26 and its 200-day moving average is $181.15.

On the ratings front, Charter has been the subject of a number of recent research reports. In a report issued on November 2, Telsey Advisory Group analyst Thomas Eagan reiterated a Buy rating on CHTR, with a price target of $227, which represents a potential upside of 19.4% from where the stock is currently trading. Separately, on August 19, MoffettNathanson LLC.’s Craig Moffett upgraded the stock to Buy and has a price target of $210.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Thomas Eagan and Craig Moffett have a total average return of 34.6% and 1.7% respectively. Eagan has a success rate of 89.7% and is ranked #42 out of 3824 analysts, while Moffett has a success rate of 56.1% and is ranked #1822.

Charter Communications Inc is a cable operator providing services in the United States. It offers cable video programming, Internet services, and voice services, as well as video services such as video on demand, HD television and DVR service.



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