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Charter pulls trigger on M&A high-yield bond

Reuters - UK Focus

By Michael Gambale and John Balassi

NEW YORK, Nov 5 (IFR) - Charter Communications (NasdaqGS: CHTR - news) and Shell (LSE: RDSB.L - news) International Finance are expected to price jumbo dollar-denominated bonds on Thursday.

The US$2.5bn Charter bond, a high-yield deal, has been expected for weeks and is the final piece of the debt financing backing its acquisition of Time Warner Cable (Xetra: T3W1.DE - news) .

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. It (Other OTC: ITGL - news) sold a US$15.5bn high-grade bond and raised US$3.8bn through term loans in July.

Shell International Finance meanwhile is in the market with an up to five-part bond for general corporate purposes. (Reporting by Natalie Harrison; Editing by Jack Doran)