Notable News to Watch: Charter Communications (NASDAQ:CHTR)

On Monday Charter Communications (NASDAQ:CHTR) stock recorded daily change of 0.07% to close at $470.33 with the total traded volume of 898170 shares along average volume of 1045558 shares 52 week range of the stock remained $ 272.91 – 485.99 while its day low price was $467.42 and its hit its day high price at $473.2. Its previous closing value stands at $470.01. CHTR total market capitalization is $101017521548. Currently stocks EPS is $5.53 while its price to earnings ratio is 85.08.

On Dec. 2, 2019, Charter Communications (NASDAQ:CHTR) released that its subsidiaries, Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. (collectively, the Issuers), have priced $1.3 billion in aggregate principal amount of senior secured notes due 2050 (the Notes). The Notes will form a part of the same series as the Issuers’ senior secured notes due 2050 issued on October 24, 2019, which bear interest at a rate of 4.800% per annum. The Notes will be issued at a price of 101.964% of the aggregate principal amount.

Charter intends to use the net proceeds from the sale of the Notes to pay related fees and expenses and for general corporate purposes, including to fund potential buybacks of Class A common stock of Charter or common units of Charter Communications Holdings, LLC, as well as repaying certain indebtedness, which may include all or a portion of the Issuers’ 3.579% senior secured notes due 2020. Charter expects to close the offering of the Notes on December 16, 2019, subject to customary closing conditions.

The offering and sale of the Notes were made pursuant to an effective automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the SEC).

About Charter

Charter Communications (NASDAQ:CHTR) is a leading broadband communications company and the second largest cable operator in the United States. Charter provides a full range of advanced residential broadband services, including Spectrum TV® programming, Spectrum Internet®, Spectrum Voice®, and Spectrum Mobile™. Under the Spectrum Business® brand, Charter provides scalable, and cost-effective broadband communications solutions to small and medium-sized business organizations, including Internet access, business telephone, and TV services. Through the Spectrum Enterprise brand, Charter is a national provider of scalable, fiber-based technology solutions serving many of America’s largest businesses and communications service providers. Charter’s advertising sales and production services are sold under the Spectrum Reach® brand. Charter’s news and sports networks are operated under the Spectrum Networks brand.

Timothy Bowers is a stock trader and Analyst writer. His current focus is top trending News. He scans the wall street market and then cover the top trending stock. In addition to content writing, Timothy is an SEO Expert and Digital marketer. He has the expertise to deliver a wide range of projects and the experience to understand the quality of work required.

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