Stock Update (NASDAQ:CHTR): Charter Communications, Inc. Prices $1.7 Billion Senior Unsecured Notes

Charter Communications, Inc. (NASDAQ:CHTR) announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., have priced $1.7 billion of senior unsecured notes due 2024 (the “New Notes”).  The New Notes will bear interest at a rate of 5.875% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $1.7 billion.

Charter expects to close the offering of the New Notes on February 19, 2016, subject to customary closing conditions. The New Notes were 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 New 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.

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

Shares of Charter Communications closed yesterday at $170.50. CHTR has a 1-year high of $199 and a 1-year low of $157.51. The stock’s 50-day moving average is $175.06 and its 200-day moving average is $182.47.

On the ratings front, Telsey Advisory Group analyst Thomas Eagan reiterated a Buy rating on CHTR, with a price target of $227, in a report issued on November 2. The current price target represents a potential upside of 33% from where the stock is currently trading. According to, Eagan has a total average return of 34.0%, an 84.6% success rate, and is ranked #29 out of 3621 analysts.

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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