Charter Communications Secures $5B Credit Facility
Ticker: CHTR · Form: 8-K · Filed: May 10, 2024 · CIK: 1091667
| Field | Detail |
|---|---|
| Company | Charter Communications, Inc. /Mo/ (CHTR) |
| Form Type | 8-K |
| Filed Date | May 10, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.7 billion, $2.5 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: credit-facility, financing, debt
Related Tickers: CHTR
TL;DR
Charter just locked in a $5B credit line until 2029, replacing an older one.
AI Summary
On May 9, 2024, Charter Communications, Inc. (CHTR) filed an 8-K to disclose that its subsidiary, CCO Holdings LLC, entered into a new credit agreement. This agreement involves a $5.0 billion revolving credit facility, which matures on May 9, 2029. The company also announced the termination of its previous $5.0 billion revolving credit facility dated May 10, 2021.
Why It Matters
This new credit facility provides Charter with significant financial flexibility and liquidity, potentially impacting its ability to fund operations, investments, and acquisitions.
Risk Assessment
Risk Level: low — The filing is a routine update on credit facilities and does not indicate any immediate financial distress or significant new risks.
Key Numbers
- $5.0B — New Revolving Credit Facility (Provides significant liquidity and financial flexibility.)
- 2029-05-09 — Maturity Date (Extended financial commitment until this date.)
Key Players & Entities
- Charter Communications, Inc. (company) — Filer
- CCO Holdings LLC (company) — Subsidiary entering credit agreement
- $5.0 billion (dollar_amount) — New revolving credit facility amount
- May 9, 2029 (date) — Maturity date of new credit facility
- May 10, 2021 (date) — Termination date of previous credit facility
FAQ
What is the purpose of the new credit agreement?
The filing indicates the new credit agreement establishes a $5.0 billion revolving credit facility, providing Charter with financial resources.
When does the new credit facility mature?
The new $5.0 billion revolving credit facility matures on May 9, 2029.
What happened to the previous credit facility?
The previous $5.0 billion revolving credit facility, dated May 10, 2021, was terminated.
Which entity entered into the new credit agreement?
Charter Communications, Inc.'s subsidiary, CCO Holdings LLC, entered into the new credit agreement.
What is the total amount of the new credit facility?
The new revolving credit facility is for $5.0 billion.
Filing Stats: 694 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2024-05-09 18:29:55
Key Financial Figures
- $1.7 billion — purchase in the Tender Offer from up to $1.7 billion to up to $2.5 billion. ITEM 9.01. FINA
- $2.5 billion — Offer from up to $1.7 billion to up to $2.5 billion. ITEM 9.01. FINANCIAL STATEMENTS AND E
Filing Documents
- tm2413983d2_8k.htm (8-K) — 42KB
- tm2413983d2_ex99-1.htm (EX-99.1) — 13KB
- tm2413983d2_8kimg002.jpg (GRAPHIC) — 13KB
- tm2413983d2_ex99-1img001.jpg (GRAPHIC) — 14KB
- 0001104659-24-059493.txt ( ) — 334KB
- chtr-20240509.xsd (EX-101.SCH) — 3KB
- chtr-20240509_def.xml (EX-101.DEF) — 26KB
- chtr-20240509_lab.xml (EX-101.LAB) — 35KB
- chtr-20240509_pre.xml (EX-101.PRE) — 24KB
- tm2413983d2_8k_htm.xml (XML) — 7KB
01 REGULATION FD
ITEM 7.01 REGULATION FD On May 9, 2024, Charter Communications, Inc. (the "Company") issued a press release titled "Charter Announces Amended Tender Offer for Debt Securities." The press release is attached hereto as Exhibit 99.1 and is incorporated to this Item 7.01 by reference. The information contained in this Item 7.01 shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Further, such information shall not be deemed incorporated by reference into any reports or filings with the Securities Exchange Commission, whether made before or after the date hereof, except as expressly set forth by specific reference in such report or filing.
01 OTHER EVENTS
ITEM 8.01 OTHER EVENTS On May 9, 2024, the Company announced that its subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. (collectively, the "Issuers") are amending their previously announced offer to purchase for cash (the "Tender Offer") the Issuers' 4.908% senior secured notes due 2025 (the "Notes") to increase the maximum amount of the Notes it will repurchase in the Tender Offer from up to $1.7 billion to up to $2.5 billion.
01. FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. Exhibit Number Description 99.1 Press release, dated May 9, 2024. 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, each of Charter Communications, Inc. and CCO Holdings, LLC has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. CHARTER COMMUNICATIONS, INC., Registrant By: /s/ Kevin D. Howard Name: Kevin D. Howard Title: Executive Vice President, Chief AccountingOfficer and Controller Date: May 9, 2024 CCO HOLDINGS, LLC, Registrant By: /s/ Kevin D. Howard Name: Kevin D. Howard Title: Executive Vice President, Chief AccountingOfficer and Controller Date: May 9, 2024 Co-Registrant CIK Co-Registrant Amendment Flag false Co-Registrant Form Type 8-K Co-Registrant DocumentPeriodEndDate 2024-05-09 Incorporate State Country Code Delaware Co-Registrant Written Communications false Co-Registrant Solicitating Materials false Co-Registrant PreCommencement Tender Offer false Co-Registrant PreCommencement Issuer Tender Offer false Co-Registrant AddressLine1 400 Washington Blvd. Co-Registrant City or Town Stamford Co-Registrant State Connecticut Co-Registrant Postal Zip code 06902 Co-Registrant City area code 203 Co-Registrant Local Phone number 905-7801 Co-Registrant Emerging Growth Company false