$338 million validly tendered
Charter Communications, Inc. (Nasdaq: CHTR) (“Charter”)
announced today that as of 11:59 PM ET, on June 27, 2008 (the “Expiration
Date”), approximately $338 million aggregate
principal amount of 10.25% Senior Notes due 2010 (the “Old
Notes”) issued by its subsidiaries, CCH II,
LLC and CCH II Capital Corp. (collectively, “CCH
II”), had been validly tendered in exchange
for additional CCH II 10.25% Senior Notes due 2013 (the “New
Notes”).
Based on the “modified Dutch auction”
process described in the Confidential Offering Memorandum dated May 29,
2008, the clearing exchange ratio for the Offer is $1,077.50 principal
amount of New Notes per $1,000 principal amount of Old Notes.
Accordingly, approximately $364 million in principal amount of New Notes
will be issued to holders whose Old Notes were accepted for exchange.
Holders will also receive accrued and unpaid interest to, but not
including, the settlement date, which is expected to be on or about July
2, 2008.
The New Notes have not been registered under the Securities Act of 1933,
as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such offering,
solicitation or sale would be unlawful.
About Charter Communications®
Charter Communications, Inc. is a leading broadband communications
company and the third-largest publicly traded cable operator in the
United States. Charter provides a full range of advanced broadband
services, including advanced Charter Digital(R) video entertainment
programming, Charter High-Speed(TM) Internet access service, and Charter
Telephone(TM) services. Charter Business(TM) similarly provides
scalable, tailored and cost-effective broadband communications solutions
to business organizations, such as business-to-business Internet access,
data networking, video and music entertainment services and business
telephone. Charter's advertising sales and production services are sold
under the Charter Media(R) brand.
