10/30/2014

Charter Sells $3.5B of Bonds to Buy Comcast Assets

A unit of Charter Communications Inc. sold $3.5 billion of speculative-grade (BUHY) bonds to help acquire some of Comcast Corp.’s cable subscribers, more than doubling the amount it initially planned to issue. A unit of the company sold $1.5 billion of 5.5 percent, eight-year securities and $2 billion of 5.75 percent, 10-year notes, Charter said in a statement today. The company initially planned to offer $1.5 billion. After losing a bidding war for Time Warner Cable Inc. to Comcast, Charter agreed in April to purchase cable-TV customers from the winning suitor. Comcast is awaiting regulatory approval for its Time Warner Cable purchase.

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