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Charter Communications announces six-part USD bond

Reuters - UK Focus

By Davide Scigliuzzo

NEW YORK, July 9 (IFR) - Charter Communications (NasdaqGS: CHTR - news) announced a new six-part benchmark US dollar bond deal for pricing on Thursday that will help fund its US$56bn acquisition of Time Warner Cable.

Goldman Sachs (NYSE: GS-PB - news) is the global coordinator for the deal, which also sees Bank of America Merrill Lynch and Credit Suisse (NYSE: CS - news) as active books, with Deutsche Bank (Xetra: 514000 - news) and UBS (NYSEArca: FBGX - news) as passive books.

The high-grade bond is part of an expected US$31bn funding plan that also includes issuance of high-yield bonds and bank debt. (Reporting by the IFR team; Editing by Marc Carnegie)