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Charter to refinance $6.85B in debt


Published : Fri, 09 Feb 2007 15:10
By : Agencies
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ST. LOUIS (AFX) - Regional cable communications operator Charter Communications Inc. said Friday one of its units is refinancing a $6.85 billion credit facility and expanding it to $8.05 billion.

The company, controlled by Microsoft Corp. co-founder Paul Allen, said the new senior secured credit comprises a $1.5 billion revolving credit, a $1 billion new term facility, a $5 billion refinancing term loan and a $550 million second lien term loan.

Charter will refinance the existing $6.85 billion in debt and use the additional proceeds to redeem debt.

The syndicate banks are JP Morgan Securities Inc., Banc of America Securities LLC and Citigroup Global Markets Inc.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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