Charter Communications Announces Projected Funding Needs are Satisfied.Business Editors & Technology Writers ST. LOUIS--(BUSINESS WIRE)--May 11, 2001 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. Holdings, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Charter Communications Holdings Capital Corporation, subsidiaries of Charter Communications, Inc. (Nasdaq:CHTR CHTR Charter CHTR Canadian High Temperature Research ), today announced the amendment of their $2 billion 2001 senior bridge loan facility. After giving effect to this amendment and the sale of the $1.5 billion Senior and Senior Discount Notes (the "Notes") announced on May 10, 2001, the bridge loan availability will be approximately $1 billion. This amendment, together with the proceeds from the sale of the Notes, will provide sufficient capital to satisfy Charter's previously projected funding shortfall of $300 million to $500 million, if Charter were to borrow the full amount available under the bridge loan facility. Charter Communications, a Wired World(TM) company, is among the nation's largest broadband communications companies 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. , currently serving some 6.4 million customers in 40 states. Charter provides a full range of advanced broadband services See broadband and broadband service provider. to the home, including cable television under the Charter Cable TV brand; advanced digital video programming services under the Charter Digital Cable(TM) brand; and high-speed Internet See broadband. access via Charter Pipeline(TM). Commercial high-speed data, video and Internet solutions are provided under the Charter Business Networks(TM) brand. Advertising sales and production services are sold under the Charter Media(TM) brand. A Fortune 500 company, Charter is the 2001 recipient of the Outstanding Corporate Growth Award from the Association for Corporate Growth, the 2001 R.E. "Ted" Turner Innovator of the Year Award from the Southern Cable Telecommunications Association, and the 2000 Innovator Award for Technology from Cablevision Magazine. More information about Charter can be found at www.charter.com. Statements in this press release regarding Charter Communications' business that are not historical facts may be "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. ." Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from any such forward-looking statements are identified in the reports and documents Charter files from time to time with the U.S. Securities and Exchange Commission. |
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