InvestorsJune 7, 2010
Charter Communications Extends Exchange offer for CCH II Notes
ST. LOUIS, June 7, 2010 /PRNewswire via COMTEX/ --Charter Communications, Inc. (the "Company") announced today that its subsidiary, CCH II, LLC, is extending the expiration date of its offer to exchange $976.8 million of the outstanding $1.766 billion aggregate principal amount of CCH II Senior Notes due 2016, which are not registered under the Securities Act of 1933, for a like aggregate principal amount of their new Senior Notes with the same due date, which are registered under the Securities Act of 1933. The outstanding notes were issued in a private placement in November 2009.
The exchange offer is being made pursuant to a Prospectus dated April 30, 2010, and related Letter of Transmittal, which more fully set forth the terms of the exchange offer. The exchange offer was originally scheduled to expire on Friday, June 4, 2010, at 5:00 PM Eastern Time (ET). The exchange offer has been extended so that it is now scheduled to expire at 5:00 PM ET, on Friday, June 11, 2010, unless further extended. All other terms of the exchange offer remain unchanged.
The exchange agent for the exchange offer is The Bank of New York Mellon Trust Company, NA, and the information agent is Global Bondholder Services Corporation. For more information, call the exchange agent at 212-815-5098.
This press release shall not constitute an offer to purchase or a solicitation of acceptance of the offer to exchange, which may be made only pursuant to the terms of the Prospectus and related Letter of Transmittal.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), 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, including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the Securities and Exchange Commission ("SEC"). Many of the forward-looking statements contained in this release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity," "preliminary," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this release are set forth in other reports or documents that we file from time to time with the SEC, and include, but are not limited to:
- the market for our securities and satisfaction of closing conditions in connection with recently announced financings;
- our ability to sustain and grow revenues and cash flows from operating activities by offering video, high-speed Internet, telephone and other services to residential and commercial customers, and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition and the difficult economic conditions in the United States;
- the impact of competition from other distributors, including but not limited to incumbent telephone companies, direct broadcast satellite operators, wireless broadband providers, and digital subscriber line ("DSL") providers and competition from video provided over the Internet;
- general business conditions, economic uncertainty or downturn and the significant downturn in the housing sector and overall economy;
- our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents);
- our ability to adequately deliver customer service;
- the effects of governmental regulation on our business;
- the availability and access, in general, of funds to meet our debt obligations, prior to or when they become due, and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) cash flows from operating activities, (iii) access to the capital or credit markets including through new issuances, exchange offers or otherwise, especially given recent volatility and disruption in the capital and credit markets, or (iv) other sources and our ability to fund debt obligations (by dividend, investment or otherwise) to the applicable obligor of such debt; and <
- our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions.
All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. We are under no duty or obligation to update any of the forward-looking statements after the date of this release.
SOURCE Charter Communications, Inc.