Charter 2004 Annual Report Download - page 53

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CHARTER COMMUNICATIONS, INC. 2004 FORM 10-K
DESCRIPTION OF OUR OUTSTANDING DEBT
As of December 31, 2004, our actual total debt was approximately $19.5 billion, as summarized below (dollars in millions):
December 31, 2004
Semi-Annual Start Date for
Accreted Interest Payment Interest Payment Maturity
Face Value Value(a) Dates on Discount Notes Date(b)
Charter Communications, Inc.:
4.750% convertible senior notes due 2006(c) $ 156 $ 156 12/1 & 6/1 6/1/06
5.875% convertible senior notes due 2009(c) 863 834 5/16 & 11/16 11/16/09
Charter Holdings:
8.250% senior notes due 2007 451 451 4/1 & 10/1 4/1/07
8.625% senior notes due 2009 1,244 1,243 4/1 & 10/1 4/1/09
9.920% senior discount notes due 2011 1,108 1,108 4/1 & 10/1 10/1/04 4/1/11
10.000% senior notes due 2009 640 640 4/1 & 10/1 4/1/09
10.250% senior notes due 2010 318 318 1/15 & 7/15 1/15/10
11.750% senior discount notes due 2010 450 448 1/15 & 7/15 7/15/05 1/15/10
10.750% senior notes due 2009 874 874 4/1 & 10/1 10/1/09
11.125% senior notes due 2011 500 500 1/15 & 7/15 1/15/11
13.500% senior discount notes due 2011 675 589 1/15 & 7/15 7/15/06 1/15/11
9.625% senior notes due 2009 640 638 5/15 & 11/15 11/15/09
10.000% senior notes due 2011 710 708 5/15 & 11/15 5/15/11
11.750% senior discount notes due 2011 939 803 5/15 & 11/15 11/15/06 5/15/11
12.125% senior discount notes due 2012 330 259 1/15 & 7/15 7/15/07 1/15/12
CCH II, LLC:
10.250% senior notes due 2010 1,601 1,601 3/15 & 9/15 9/15/10
CCO Holdings, LLC:
83/4% senior notes due 2013 500 500 5/15 & 11/15 11/15/13
3/15, 6/15,
Senior floating notes due 2010 550 550 9/15 & 12/15 12/15/10
Charter Operating:
8% senior second-lien notes due 2012 1,100 1,100 4/30 & 10/30 4/30/12
83/8% senior second-lien notes due 2014 400 400 4/30 & 10/30 4/30/14
Renaissance Media Group LLC:
10.000% senior discount notes due 2008 114 116 4/15 & 10/15 10/15/03 4/15/08
CC V Holdings, LLC:
11.875% senior discount notes due 2008(d) 113 113 6/1 & 12/1 6/1/04 12/1/08
Credit Facilities
Charter Operating 5,515 5,515
$19,791 $19,464
(a) The accreted value presented above represents the face value of the notes less the original issue discount at the time of sale plus the accretion to the balance sheet date.
(b) In general, the obligors have the right to redeem all of the notes set forth in the above table (except with respect to the 5.875% convertible senior notes due 2009 and
the Charter Holdings notes with terms of eight years) in whole or part at their option, beginning at various times prior to their stated maturity dates, subject to certain
conditions, upon the payment of the outstanding principal amount (plus a specified redemption premium) and all accrued and unpaid interest. The 5.875% convertible
senior notes are redeemable if the closing price of our Class A common stock exceeds the conversion price by certain percentages as described below. For additional
information, see Note 9 to our consolidated financial statements contained in ‘‘Item 8. Financial Statements and Supplementary Data.’’
(c) The 4.75% convertible senior notes and the 5.875% convertible senior notes are convertible at the option of the holders into shares of Class A common stock at a
conversion rate, subject to certain adjustments, of 38.0952 and 413.2231 shares, respectively, per $1,000 principal amount of notes, which is equivalent to a price of $26.25
and $2.42 per share, respectively. Certain anti-dilutive provisions cause adjustments to occur automatically upon the occurrence of specified events. Additionally, the
conversion ratio may be adjusted by us when deemed appropriate.
(d) The Charter Operating credit facilities require us to redeem the CC V Holdings notes within 45 days after the first date that the Charter Holdings leverage ratio is less
than 8.75 to 1.0. In satisfaction of this requirement. CC V Holdings, LLC has called for redemption all of its outstanding notes, at 103.958% of principal amount, plus
accrued and unpaid interest to the date of redemption, which is anticipated to be March 14, 2005. We are not required to redeem any of the other notes listed above
prior to their stated maturity dates.
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