Charter Communications Extends Exchange Offer for $1.5 Billion Senior and Senior Discount Notes; Exchange Offer Extended to September 10, 2001.Business Editors ST. LOUIS--(BUSINESS WIRE)--Sept. 5, 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 extension of their offer (the "Exchange Offer") to exchange their outstanding $350 million of 9.625% Senior Notes due 2009, $575 million of 10% Senior Notes due 2011 and, $575.2 million of 11.75% Senior Discount Notes due 2011 with a principal at maturity of $1.02 billion (collectively, the "Old Notes") for $350 million of 9.625% Senior Notes due 2009, $575 million of 10% Senior Notes due 2011 and, $575.2 million of 11.75% Senior Discount Notes due 2011 with a principal at maturity of $1.02 billion (collectively, the "New Notes"). The original Exchange Offer was scheduled to expire at 5:00 p.m. Eastern Time, on September 5, 2001. As of today, approximately $280.9 million in aggregate principal amount of 9.625% Senior Notes due 2009, $378.3 million in aggregate principal of 10% Senior Notes due 2011, and $732.4 million in aggregate principal of 11.75% Senior Discount Notes due 2011 have been confirmed as tendered in exchange for a like principal amount of New Notes. The new expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. for the Exchange Offer is 5:00 p.m. Eastern Time, on September 10, 2001. The New Notes have been registered under the Securities Act of 1933, as amended (the "Securities Act"). The Old Notes were sold to qualified institutional buyers In law, a Qualified Institutional Buyer is a purchaser of securities that is financially sophisticated and is legally recognized by security market regulators to need less protection from sellers than most members of the public. in reliance on Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. of the Securities Act on May 15, 2001. The Old Notes were not registered under the Securities Act and may not be offered or sold in 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. except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Old Notes or the New Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About Charter Charter Communications, Inc. (Nasdaq:CHTR), a Wired World(TM) company, is among the nation's largest broadband communications companies, currently serving some 7 million customers in 40 states. Charter provides a full range of advanced broadband services to the home, including cable television on an advanced digital video programming platform marketed under the Charter Digital Cable(TM) brand; and high-speed Internet See broadband. access marketed under the Charter Pipeline(TM) brand. 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. 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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