Aggregate Principal Amount:
|
$1,500,000,000 | |
Title of Securities:
|
6.500% Senior Notes due 2021 | |
Final Maturity Date:
|
April 30, 2021 | |
Issue Price:
|
100.000%, plus accrued interest, if any | |
Coupon:
|
6.500% | |
Yield to Maturity:
|
6.500% | |
Spread to Benchmark
Treasury:
|
324.9 bps | |
Benchmark:
|
3.625% UST due 02/15/21 | |
Interest Payment Dates:
|
April 30 and October 30 | |
Record Dates:
|
April 15 and October 15 | |
First Interest Payment Date:
|
October 30, 2011 | |
Gross Proceeds:
|
$1,500,000,000 | |
Underwriting Discount:
|
1.30% | |
Net Proceeds to the Issuers
before Estimated Expenses:
|
$1,480,500,000 | |
Optional Redemption:
|
Except as described below, the Notes are not redeemable before April 30, 2015. On or after April 30, 2015, the Issuers may redeem all or a part of the Notes upon not less than 30 nor more than 60 days notice, at the redemption prices (express as percentages of principal amount of Notes) set forth below plus accrued and unpaid interest thereon, if any, to the applicable |
Date | Price | |||
2015 |
104.875 | % | ||
2016 |
103.250 | % | ||
2017 |
101.625 | % | ||
2018 and thereafter |
100.000 | % |
Optional Redemption with Equity Proceeds: |
At any time prior to April 30, 2014, the Issuers may, on any one or more occasions, redeem up to 35% of the Notes at a redemption price equal to 106.500% of the principal amount thereof, plus accrued and unpaid interest to the redemption date, with the net cash proceeds of certain equity offerings. | |
Change of Control:
|
101% | |
Underwriters:
|
UBS Securities LLC | |
Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
Citigroup Global Markets Inc. | ||
Credit Suisse Securities (USA) LLC | ||
Deutsche Bank Securities Inc. | ||
J.P. Morgan Securities LLC | ||
U.S. Bancorp Investments, Inc. | ||
RBC Capital Markets, LLC | ||
Goldman, Sachs & Co. | ||
Morgan Stanley & Co. Incorporated | ||
Credit Agricole Securities (USA) Inc. | ||
Morgan Joseph TriArtisan LLC |
Name | Principal Amount of Notes | |||
UBS Securities LLC |
$ | 252,000,000 | ||
Merrill Lynch, Pierce, Fenner & Smith
Incorporated |
252,000,000 | |||
Citigroup Global Markets Inc. |
252,000,000 | |||
Credit Suisse Securities (USA) LLC |
252,000,000 |
Deutsche Bank Securities Inc. |
252,000,000 | |||
J.P. Morgan Securities LLC |
41,250,000 | |||
U.S. Bancorp Investments, Inc. |
41,250,000 | |||
RBC Capital Markets, LLC |
41,250,000 | |||
Goldman, Sachs & Co. |
37,500,000 | |||
Morgan Stanley & Co. Incorporated |
37,500,000 | |||
Credit Agricole Securities (USA) Inc. |
11,250,000 | |||
Morgan Joseph TriArtisan LLC |
30,000,000 | |||
$ | 1,500,000,000 |
Use of Proceeds:
|
We intend to use the proceeds of this offering (i) to make an equity contribution to Charter Operating, (ii) to make an intercompany loan to Charter Operating, (iii) to pay fees and expenses related to this offering, and (iv) for general corporate purposes. Charter Operating intends to use the proceeds from the contribution and intercompany loan to repay borrowings under one or more term loan portions of Charter Operatings credit facilities, which may include term loans held by affiliates of the underwriters or Charter and to repay borrowings under the revolving portion of Charter Operatings credit facilities. | |
Trade Date:
|
May 3, 2011 | |
Settlement Date:
|
May 10, 2011 (T+5) | |
Ratings*:
|
B1/BB-/BB- | |
Distribution:
|
SEC Registered (Registration No. 333-171526) | |
CUSIP/ISIN Numbers:
|
CUSIP: 1248EP AU7 | |
ISIN: US1248EPAU74 | ||
Listing:
|
None | |
Additional Information:
|
The following language is hereby added to the section entitled Underwriting on page S-84 of the Preliminary Prospectus Supplement: | |
We expect that delivery of the Notes will be made to investors on or about May 10, 2011, which will be the fifth business day following the date of this prospectus supplement (such settlement cycle being herein referred to as T+5). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in three business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on the date of this prospectus |
supplement or the next succeeding business day will be required, by virtue of the fact that the Notes initially will settle in T+5, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of Notes who wish to trade Notes prior to their date of delivery hereunder should consult their own advisor. |