Charter Extends Maturities of Its Credit Facilities
Charter Communications (NASDAQ: CHTR) has announced significant debt restructuring through an amendment to its Credit Agreement. The company's subsidiary, Charter Communications Operating (CCO), has extended the maturity dates of substantial debt portions from 2027 to 2030 and 2031.
Key changes include: increasing the revolving credit facility by $960 million at SOFR plus 1.25%, with $960 million in Revolving B Commitments (maturing 2027) and $5.5 billion in new Revolving C Commitments (maturing 2030); converting existing loans into $4.5 billion Term A-7 loans at SOFR plus 1.25% (maturing 2030) and $2.5 billion Term B-5 Loans at SOFR plus 2.25% (maturing 2031).
Charter Communications (NASDAQ: CHTR) ha annunciato una significativa ristrutturazione del debito attraverso un emendamento al suo Accordo di Credito. La sussidiaria dell'azienda, Charter Communications Operating (CCO), ha esteso le scadenze di una parte consistente del debito dal 2027 al 2030 e 2031.
Le principali modifiche includono: l'aumento della linea di credito revolving di 960 milioni di dollari a SOFR pi霉 1,25%, con 960 milioni di dollari in impegni di Revolving B (in scadenza nel 2027) e 5,5 miliardi di dollari in nuovi impegni di Revolving C (in scadenza nel 2030); la conversione dei prestiti esistenti in prestiti Term A-7 per un valore di 4,5 miliardi di dollari a SOFR pi霉 1,25% (in scadenza nel 2030) e 2,5 miliardi di dollari in prestiti Term B-5 a SOFR pi霉 2,25% (in scadenza nel 2031).
Charter Communications (NASDAQ: CHTR) ha anunciado una reestructuraci贸n significativa de la deuda a trav茅s de una enmienda a su Acuerdo de Cr茅dito. La subsidiaria de la compa帽铆a, Charter Communications Operating (CCO), ha extendido las fechas de vencimiento de partes sustanciales de la deuda de 2027 a 2030 y 2031.
Los cambios clave incluyen: el aumento de la l铆nea de cr茅dito revolving en 960 millones de d贸lares a SOFR m谩s 1,25%, con 960 millones de d贸lares en Compromisos Revolving B (que vencen en 2027) y 5,5 mil millones de d贸lares en nuevos Compromisos Revolving C (que vencen en 2030); la conversi贸n de pr茅stamos existentes en pr茅stamos Term A-7 por 4,5 mil millones de d贸lares a SOFR m谩s 1,25% (que vencen en 2030) y 2,5 mil millones de d贸lares en pr茅stamos Term B-5 a SOFR m谩s 2,25% (que vencen en 2031).
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欤检殧 氤�瓴届偓頃溂搿滊姅: SOFR 頂岆煬鞀� 1.25%鞚� 須岇爠 鞁犾毄 頃滊弰毳� 9鞏� 6觳滊 雼煬搿� 電橂Μ瓿�, 2027雲勳棎 毵岅赴臧� 霃勲灅頃橂姅 9鞏� 6觳滊 雼煬鞚� 須岇爠 B 鞎届爼鞚� 韽暔頃橂┌, 2030雲勳棎 毵岅赴臧� 霃勲灅頃橂姅 55鞏� 雼煬鞚� 靸堧鞖� 須岇爠 C 鞎届爼鞚� 韽暔頃╇媹雼�; 旮办〈 雽�於滌潉 45鞏� 雼煬鞚� Term A-7 雽�於滊 鞝勴櫂頃橂┌, SOFR 頂岆煬鞀� 1.25% (2030雲勳棎 毵岅赴) 氚� 25鞏� 雼煬鞚� Term B-5 雽�於滌潉 SOFR 頂岆煬鞀� 2.25%搿� 鞝勴櫂頃╇媹雼� (2031雲勳棎 毵岅赴).
Charter Communications (NASDAQ: CHTR) a annonc茅 une restructuration significative de sa dette par le biais d'un amendement 脿 son Accord de Cr茅dit. La filiale de la soci茅t茅, Charter Communications Operating (CCO), a prolong茅 les dates d'茅ch茅ance de parties substantielles de la dette de 2027 脿 2030 et 2031.
Les principaux changements incluent : l'augmentation de la ligne de cr茅dit revolving de 960 millions de dollars 脿 SOFR plus 1,25 %, avec 960 millions de dollars en engagements de Revolving B (茅ch茅ance en 2027) et 5,5 milliards de dollars en nouveaux engagements de Revolving C (茅ch茅ance en 2030) ; la conversion des pr锚ts existants en pr锚ts Term A-7 pour un montant de 4,5 milliards de dollars 脿 SOFR plus 1,25 % (茅ch茅ance en 2030) et 2,5 milliards de dollars en pr锚ts Term B-5 脿 SOFR plus 2,25 % (茅ch茅ance en 2031).
Charter Communications (NASDAQ: CHTR) hat eine bedeutende Schuldenrestrukturierung durch eine 脛nderung seines Kreditvertrags angek眉ndigt. Die Tochtergesellschaft des Unternehmens, Charter Communications Operating (CCO), hat die F盲lligkeitstermine erheblicher Schuldenanteile von 2027 auf 2030 und 2031 verl盲ngert.
Zu den wichtigsten 脛nderungen geh枚ren: die Erh枚hung der revolvierenden Kreditlinie um 960 Millionen US-Dollar zu SOFR plus 1,25%, mit 960 Millionen US-Dollar in Revolving B-Verpflichtungen (f盲llig 2027) und 5,5 Milliarden US-Dollar in neuen Revolving C-Verpflichtungen (f盲llig 2030); die Umwandlung bestehender Kredite in 4,5 Milliarden US-Dollar Term A-7 Kredite zu SOFR plus 1,25% (f盲llig 2030) und 2,5 Milliarden US-Dollar Term B-5 Kredite zu SOFR plus 2,25% (f盲llig 2031).
- Extended debt maturities from 2027 to 2030/2031, improving financial flexibility
- Increased revolving credit facility by $960 million
- Successful debt restructuring without increasing interest rates significantly
- Additional debt obligations with new credit facilities
- Increased total revolving credit exposure
Insights
This debt restructuring represents a significant strategic move for Charter Communications, extending maturities on
The refinancing strengthens Charter's liquidity position and debt maturity profile, reducing near-term refinancing risk. The company's ability to secure these terms, including the increased revolving facility, demonstrates continued strong access to credit markets despite the challenging macro environment. The staggered 2030-2031 maturities provide improved financial flexibility and a more balanced debt schedule.
The pricing terms appear competitive given current market conditions, particularly the
After giving effect to the Amendment:
(i) the aggregate principal amount of CCO's revolving credit facility increased by
(a) an aggregate principal amount of existing Revolving B Commitments (maturing on August 31, 2027) of
(b) an aggregate principal amount of new Revolving C Commitments (maturing on March 15, 2030) of
(ii) a portion of the existing Term A-5 Loans were converted into new Term A-7 loans, with an aggregate principal amount of Term A-7 Loans outstanding of approximately聽
(iii) a portion of the existing Term B-2 Loans were converted into new Term B-5 Loans, with an aggregate principal amount of Term B-5 Loans outstanding of
CCO used proceeds from the Amendment plus cash on hand to repay all the remaining Term A-5 Loans and Term B-2 Loans not converted to Term A-7 or Term B-5 Loans, respectively, in connection with the Amendment, as well as to pay related fees and expenses.
About Charter
Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator with services available to more than 58 million homes and businesses in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a full range of state-of-the-art residential and business services including Spectrum Internet庐, TV, Mobile and Voice.
For small and medium-sized companies, Spectrum Business庐 delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise庐 provides highly customized, fiber-based solutions. Spectrum Reach庐 delivers tailored advertising and production for the modern media landscape. The Company also distributes award-winning news coverage and sports programming to its customers through Spectrum Networks. More information about Charter can be found at corporate.charter.com.聽
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SOURCE Charter Communications, Inc.
FAQ
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