Advertisement
UK markets close in 2 hours 19 minutes

  • FTSE 100

    8,035.03
    +11.16 (+0.14%)
     

  • FTSE 250

    19,696.58
    +97.19 (+0.50%)
     

  • AIM

    753.33
    +4.15 (+0.55%)
     

  • GBP/EUR

    1.1611
    +0.0022 (+0.19%)
     

  • GBP/USD

    1.2388
    +0.0038 (+0.31%)
     

  • Bitcoin GBP

    53,375.33
    -110.27 (-0.21%)
     

  • CMC Crypto 200

    1,420.19
    +5.43 (+0.38%)
     

  • S&P 500

    5,010.60
    +43.37 (+0.87%)
     

  • DOW

    38,239.98
    +253.58 (+0.67%)
     

  • CRUDE OIL

    81.10
    -0.80 (-0.98%)
     

  • GOLD FUTURES

    2,324.20
    -22.20 (-0.95%)
     

  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     

  • HANG SENG

    16,828.93
    +317.24 (+1.92%)
     

  • DAX

    18,059.31
    +198.51 (+1.11%)
     

  • CAC 40

    8,083.45
    +43.09 (+0.54%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Charter eyes US$2.5bn three-part bond deal

Reuters - UK Focus

By Davide Scigliuzzo

NEW YORK, Aug 4 (IFR) - Charter Communications (NasdaqGS: CHTR - news) is targeting a smaller-than-expected US$2.5bn high-yield bond to help finance its US$56bn acquisition of Time Warner Cable (Xetra: T3W1.DE - news) , the company said in a presentation on Tuesday.

The company will look to issue US$1bn each in 2024 and 2026 maturing bonds, and US$500m in 2028s, the presentation showed.

No details on the timing of the bond were provided and the company was not immediately available to comment.

At US$2.5bn, the size of the bond is smaller than the US$3.5bn originally announced - partly a result of a bigger-than-expected loan financing.

ADVERTISEMENT

The company has already raised around 90% of the debt it needs for both the TWC acquisition, as well as its purchase of Bright House Networks, Charter's Chief Executive Officer Tom Rutledge said on Tuesday on an earnings call.

The company sold a US$15.5bn high-grade bond and raised US$3.8bn through term loans in July.

Bank of America Merrill Lynch, Credit Suisse (NYSE: CS - news) , Deutsche Bank (Xetra: 514000 - news) , Goldman Sachs (NYSE: GS-PB - news) and UBS (NYSEArca: FBGX - news) are the underwriters on the financing package. (Reporting by Davide Scigliuzzo; Editing by Natalie Harrison)