Upon the terms and subject to the conditions set forth in this offer to purchase (as it may be amended or supplemented from time to time, this Offer to Purchase), Charter Communications Operating, LLC, a Delaware limited liability company (CCO or the Company), and Charter Communications Operating Capital Corp., a Delaware corporation (CCO Capital and, together with CCO, the Issuers, we, us or our), are making separate offers (each, an Offer and, collectively, the Offers) to purchase for cash from each registered holder (each, a Holder and, collectively, the Holders) of each series of notes described in the table below (collectively, the Notes and each, a Series of Notes). The Offers are open to all registered Holders of the Notes using a waterfall methodology under which we will accept Notes in the order of their respective Acceptance Priority Levels (as defined herein), subject to a $1.5 billion cap on the aggregate Consideration (as defined below) that we will be obligated to pay for all Notes purchased in the Offers (the Offer Cap). For the avoidance of doubt, the Offer Cap for Notes purchased in the Offers shall exclude the Accrued Interest (as defined below). We describe below the operation of this waterfall methodology with respect to each Series of Notes, which we refer to as the Acceptance Priority Procedures. Additionally, we may increase the amount of Notes accepted for payment in the Offers by no more than 2% of the outstanding Notes of the applicable Series, subject to proration, as further described in the Acceptance Priority Procedures set forth below, without amending or extending the Offers.
The Consideration per $1,000 principal amount of each Series of Notes validly tendered, not validly withdrawn and accepted for purchase pursuant to the Offers will be determined in the manner described in this Offer to Purchase by reference to the fixed spread (the Fixed Spread) specified for such Series of Notes in the table below over the yield to maturity (the Reference Yield) based on the bid side price of the U.S. Treasury Security (the Reference U.S. Treasury Security) specified in the table below for such Series of Notes, as calculated by BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (the Joint-Lead Dealer Managers and, collectively with any other dealer managers we appoint, the Dealer Managers) at 3:00 p.m., New York City time, on November 17, 2026, the scheduled Expiration Date (as defined herein) (subject to extension by us in our sole discretion, such time and date, as the same may be extended, the Price Determination Date). The formula for determining the applicable Consideration is set forth on Schedule A to this Offer to Purchase. Holders of a Series of Notes validly tendered at or prior to the Expiration Date (and not validly withdrawn at or prior to the Withdrawal Deadline) and accepted for purchase will receive the Consideration for such Series of Notes. Only Holders that validly tender their Notes (and do not validly withdraw their Notes) at or prior to the Expiration Date will be eligible to receive the applicable Consideration on the Settlement Date (as defined herein). If a Holder validly tenders its Notes, does not validly withdraw such Notes and the Company accepts such Notes for payment, subject to the terms and conditions of the Offers, the Company will also pay to such Holder all accrued and unpaid interest on such Notes up to, but not including, the Settlement Date (Accrued Interest).
The following table summarizes the material pricing terms for the consideration for the Notes tendered pursuant to this Offer to Purchase:
| Issuer | Title of Security | CUSIP / ISIN(1) | Acceptance Priority Level | Aggregate Principal Amount Outstanding (in Millions) |
|---|---|---|---|---|
| CCO Issuers | 3.850% Senior Secured Notes Due 2061 | 161175BY9 / US161175BY99 | 1 | $1,850 |
| CCO Issuers | 3.950% Senior Secured Notes Due 2062 | 161175CG7 / US161175CG74 | 2 | $1,400 |
| CCO Issuers | 3.700% Senior Secured Notes Due 2051 | 161175BV5 / US161175BV50 | 3 | $1,527 |
| CCO Issuers | 3.900% Senior Secured Notes Due 2052 | 161175CA0 / US161175CA05 | 4 | $1,885 |
| CCO Issuers | 4.400% Senior Secured Notes Due 2061 | 161175CC6 / US161175CC60 | 5 | $1,400 |
| CCO Issuers | 3.500% Senior Secured Notes Due 2042 | 161175CE2 / US161175CE27 | 6 | $897 |
| CCO Issuers | 3.500% Senior Secured Notes Due 2041 | 161175BZ6 / US161175BZ64 | 7 | $1,006 |
| CCO Issuers | 4.800% Senior Secured Notes Due 2050 | 161175BT0 / US161175BT05 | 8 | $1,605 |
To view copie(s) of the Tender Offer document(s) please click on the link(s) below
28 Liberty Street, 53rd Floor
New York, New York 10005
Banks and Brokers call: (212) 993-7540
All others, please call toll free: (866) 416-0577
Email: charter@dfking.com
|
BofA Securities, Inc.
620 S. Tryon Street, 20th Floor
Charlotte, North Carolina 28255 Attention: Liability Management Collect: +1 (980) 387-3907 Toll Free: +1 (888) 292-0070 Email: debt_advisory@bofa.com |
J.P. Morgan Securities LLC
270 Park Ave
New York, New York 10017 Attention: Liability Management Group Collect: (212) 834-4087 Toll-Free: (866) 834-4666 |
Morgan Stanley & Co. LLC
1585 Broadway, 6th Floor
New York, NY 10036 Attn: Liability Management Group Collect: (212) 761-1057 Toll-Free: (800) 624-1808 Email: LMNY@morganstanley.com |
Any questions regarding the terms of any of the Offers may be directed to the Joint-Lead Dealer Managers. Requests for additional copies of documentation related to any of the Offers, requests for copies of the Indentures and any questions or requests for assistance in tendering may be directed to the Information Agent and Tender Agent. Any requests for additional copies of this Offer to Purchase may be directed to the Information Agent and Tender Agent. Beneficial owners of Notes may also contact their brokers, dealers, commercial banks or trust companies for assistance concerning any of the Offers.