Charter Communications subsidiary amends credit facility
Charter Communications' (NASDAQ:CHTR) operating subsidiary has announced an amendment to its credit facility.
The amendment calls for conversion of all Term A-4 Loans to Term A-5 Loans; borrowing $2.85B additional Term A-5 Loans and extending the maturity of the Term A-5 Loans to August 31, 2027; create and borrow a new tranche of $500M of Term A-6 Loans maturing August 31, 2028; expand the size of revolving credit facility, change the interest rate benchmark from LIBOR to SOFR and extend the maturity date to August 31, 2027; and make certain other amendments to the credit agreement.
A portion of the proceeds from the amendment will be used to repay all of the Term A-2 Loans, the Term A-4 Loans and all Revolving Loans outstanding prior to the effective date of the amendment.

Once the amendment is into effect, the aggregate principal amount of Term A-5 Loans outstanding will be $6.05B with a pricing of SOFR plus 1.25%; the aggregate principal amount of Term A-6 Loans outstanding will $500M with a pricing of SOFR plus 1.50%; the aggregate amount of the revolving credit facility will increase by $750M to $5.5B with a pricing of SOFR plus 1.25%; the aggregate principal amount of Term B-1 Loans (maturing April 30, 2025) and Term B-2 Loans (maturing February 1, 2027) outstanding will be $2.4B and $3.7B, respectively, with LIBOR-based pricing unchanged.