Charter prices $4.75B in senior secured notes to fund Cox acquisition

Charter Communications, Inc. (NASDAQ: CHTR) announced that its subsidiaries Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. have priced $4.75 billion in senior secured notes across four tranches.

The offering consists of $1.75 billion in notes due 2032 at an interest rate of 6.050%, priced at 99.839% of par; $1.0 billion in notes due 2034 at 6.600%, priced at 99.896%; $1.0 billion in notes due 2036 at 6.950%, priced at 99.937%; and $1.0 billion in notes due 2056 at 7.850%, priced at 99.921%.

Charter said it intends to use the net proceeds to fund the cash consideration for its previously announced acquisition of Cox Communications, Inc., as well as for general corporate purposes, including repayment of certain indebtedness and related fees and expenses.

The company noted the offering is not conditioned on the closing of the Cox transaction, and the Cox transaction is not conditioned on the completion of this offering. Charter expects to close the notes offering on August 18, 2026, subject to customary closing conditions.

The offering was made pursuant to an automatic shelf registration statement filed with the Securities and Exchange Commission. Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC served as joint book-running managers.

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