Charter Communications, Inc. and Charter Communications Holdings, LLC Announce Extension of Expiration Times of Tender Offers until 5:00 p.m., New York City Time, August 14, 2003.Business Editors ST. LOUIS--(BUSINESS WIRE)--Aug. 13, 2003 Charter Communications Charter Communications NASDAQ: CHTR is an American company providing cable television, high-speed Internet, and telephone services to more than 5.7 million customers in 29 states. It is the third-largest publicly traded cable operator in the U.S. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CHTR CHTR Charter CHTR Canadian High Temperature Research )(the "Company" or "CCI CCI Chambre de Commerce et d'Industrie (France) CCI CAM (Complementary and Alternative Medicine) Citation Index CCI Chamber of Commerce and Industry (Western Australia) ") and its indirect subsidiary, Charter Communications Holdings, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Holdings"), announced today that the expiration times Expiration time The time of day by which all exercise notices must be received on the expiration date. Technically, the expiration time is currently 11:59AM on the expiration date, but public holders of option contracts must indicate their desire to exercise no later than 5:30PM on of each of CCI's pending tender offers for a portion of its convertible senior notes and Holdings' pending tender offers for a portion of its senior notes and senior discount notes are extended until 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on Thursday, August 14, 2003, unless extended or earlier terminated. The Company and Holdings intend to fund the tender offers and the proposed paydown of up to approximately $500 million of indebtedness under their subsidiaries' bank credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities through a financing contemplated to raise $1.7 billion by indirect subsidiaries of the Company. Withdrawal rights with respect to Holdings' tender offers expired at 12:00 midnight, New York City time, on Tuesday, August 12, 2003. Accordingly, Holdings' senior notes and senior discount notes tendered pursuant to Holdings' tender offers, whether tendered before or after such time, may no longer be withdrawn. Notes tendered pursuant to the offers by CCI for convertible senior notes may be withdrawn at any time prior to the expiration times for such offers. The principal purchase amount and the tender offer consideration for each $1,000 principal amount (or principal amount at maturity, in the case of senior discount notes) in each of the offers remain unchanged. CCI's and Holdings' obligations to accept notes tendered in their respective offers and pay the respective tender offer consideration are subject to a number of conditions, including obtaining sufficient financing, as fully set forth in the respective Offers to Purchase and Letters of Transmittal for the tender offers. The tables below show the principal purchase amount of each series of CCI's notes and Holdings' notes being tendered for, and the aggregate principal amount (or aggregate principal amount at maturity, in the case of Holdings' senior discount notes) of each series of CCI's notes and Holdings' notes, respectively, tendered as of 5:00 p.m., New York City time, on August 13, 2003.
Series of CCI CUSIP Principal Principal Amount
Notes Number Amount Purchase Tendered
Outstanding(1) Amount
4.75% 16117MAC1 $632,500,000 $140,000,000 $492,540,000
Convertible
Senior Notes
due 2006
5.75% 16117MAB3 $750,000,000 $210,000,000 $300,635,000
Convertible 16117MAA5
Senior Notes
due 2005
(1) Principal amount outstanding at June 30, 2003.
Series of CUSIP Principal Principal Amount
Holdings Number Amount Purchase Tendered
Notes Outstanding(1) Amount
8.625% 16117PAE0 $1,500,000,000 $279,000,000 $922,780,000
Senior Notes 16117PAB6
due 2009
10.000% 16117PAK6 $675,000,000 $122,000,000 $537,990,000
Senior Notes
due 2009
10.750% 16117PAT7 $900,000,000 $159,000,000 $703,209,000
Senior Notes
due 2009
9.625% 16117PAZ3 $700,000,000 $131,000,000 $596,813,000
Senior Notes 16117PAY6
due 2009
10.250% 16117PAL4 $325,000,000 $57,000,000 $231,909,000
Senior Notes
due 2010
11.125% 16117PAV2 $500,000,000 $91,000,000 $373,111,000
Senior Notes 16117PAQ3
due 2011
10.000% 16117PBB5 $875,000,000 $164,000,000 $764,865,000
Senior Notes 16117PBA7
due 2011 16117PBF6
9.920% 16117PAF7 $1,475,000,000 $60,000,000 $1,083,812,000
Senior
Discount Notes
due 2011
(1) Principal amount (or principal amount at maturity, in the case of
senior discount notes) outstanding at June 30, 2003.
Holdings may increase the principal amount (or principal amount at maturity, in the case of senior discount notes) of the notes that it is seeking to purchase depending on the amount of net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). that it receives from the financing by subsidiaries of the Company, but withdrawal rights will not be extended or reinstated in such event. Citigroup Global Markets Inc. ("Citigroup") is the dealer manager for the CCI and Holdings tender offers. Questions concerning the terms of the CCI and Holdings tender offers should be directed to Citigroup's Liability Management Desk, 390 Greenwich Street, 4th Floor, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10013, telephone: (800) 558-3745. The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. is the depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. agent in connection with the CCI and Holdings tender offers. D.F. King & Co., Inc. is the information agent for the CCI and Holdings tender offers. Copies of the respective Offers to Purchase and Letters of Transmittal may be obtained from the information agent at (800) 758-5378. About Charter Communications Charter Communications, A Wired World Company(TM), is the nation's third-largest broadband communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. . Charter provides a full range of advanced broadband services See broadband and broadband service provider. to the home, including cable television on an advanced digital video programming platform via Charter Digital Cable(R) brand and high-speed Internet See broadband. access marketed under the Charter Pipeline(R) brand. Commercial high-speed data, video and Internet solutions are provided under the Charter Business Networks(R) brand. Advertising sales and production services are sold under the Charter Media(R) brand. More information about Charter can be found at www.charter.com. Cautionary Statement Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission. All forward-looking statements attributable to the Company or a person acting on its behalf are expressly qualified in their entirety by this cautionary statement. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion