InvestorsJuly 11, 2003
Charter Communications Announces Private Offering of $1.7 Billion of Senior Notes by Certain of Its Subsidiaries
ST. LOUIS--(BUSINESS WIRE)--July 11, 2003--Charter Communications, Inc. (NASDAQ:CHTR) (the "Company") announced today that its indirect subsidiaries, CCH I, LLC and CCH Capital Corporation (collectively, "CCH I"), and CCH II, LLC and CCH II Capital Corporation (collectively, "CCH II), each of which is a direct or indirect subsidiary of Charter Communications Holdings, LLC ("Holdings"), intend to initiate private placements aggregating approximately $1.7 billion principal amount of new senior notes. The net cash proceeds from the issuance of the new senior notes will be used to fund the Company's and Holdings' previously announced cash tender offers for a portion of the Company's convertible senior notes and a portion of Holdings' senior notes and senior discount notes. The Company currently anticipates that up to approximately $500 million of the net cash proceeds would be used to repay indebtedness under one or more of the Company's subsidiaries' credit facilities. The new senior notes will not be registered under the Securities Act of 1933 or any state securities laws. Thus, the new senior notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and any applicable state securities laws. This announcement is neither an offer to sell nor a solicitation of an offer to buy the new senior notes.
Cautionary Statement Regarding Forward-Looking Statements:
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release are set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission All forward-looking statements attributable to the Company us or a person acting on its behalf are expressly qualified in their entirety by this cautionary statement.
CONTACT: Charter Communications, Inc., St. Louis Media: Deb Seidel, 314-543-5703 email@example.com or Analysts: Mary Jo Moehle, 314-543-2397 firstname.lastname@example.org www.charter.com SOURCE: Charter Communications, Inc.