Charter 2005 Annual Report Download - page 139

Download and view the complete annual report

Please find page 139 of the 2005 Charter annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 168

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 2005 FORM 10-K
Notes to Consolidated Financial Statements (continued)
30 trading day period begins prior to November 16, 2007 or January 2000 Charter Holdings Notes. The January 2000 Charter
150% of the conversion price, if such 30 trading period begins Holdings notes are general unsecured obligations of Charter
thereafter. Holders who convert notes that we have called for Holdings and Charter Capital. The January 2000 10.00% Charter
redemption shall receive, in addition to the early conversion Holdings notes mature on April 1, 2009, and as of December 31,
make whole amount, if applicable, the present value of the 2005, there was $154 million in total principal amount of these
interest on the notes converted that would have been payable notes outstanding. The January 2000 10.25% Charter Holdings
for the period from the later of November 17, 2007 and the notes mature on January 15, 2010 and as of December 31, 2005,
redemption date through the scheduled maturity date for the there was $49 million in total principal amount of these notes
notes, plus any accrued deferred interest. outstanding. The January 2000 11.75% Charter Holdings notes
mature on January 15, 2010 and as of December 31, 2005, the
March 1999 Charter Holdings Notes. The March 1999 Charter total principal amount and accreted value outstanding of these
Holdings notes are general unsecured obligations of Charter notes was $43 million. Cash interest on the January 2000 11.75%
Holdings and Charter Communications Capital Corporation Charter Holdings notes began to accrue on January 15, 2005.
(‘‘Charter Capital’’). The March 1999 8.250% Charter Holdings The January 2000 Charter Holdings notes are senior debt
notes mature on April 1, 2007, and as of December 31, 2005, obligations of Charter Holdings and Charter Capital. They rank
there was $105 million in total principal amount outstanding. equally with all other current and future unsubordinated
The March 1999 8.625% Charter Holdings notes mature on obligations of Charter Holdings and Charter Capital. They are
April 1, 2009 and as of December 31, 2005, there was structurally subordinated to the obligations of Charter Holdings’
$292 million in total principal amount outstanding. The March subsidiaries, including the CIH notes, the CCH I notes, the
1999 9.920% Charter Holdings notes mature on April 1, 2011 CCH II notes, the CCO Holdings notes, the Renaissance notes,
and as of December 31, 2005, the total principal amount and the Charter Operating notes and the Charter Operating credit
accreted value outstanding was $198 million. Cash interest on facilities.
the March 1999 9.920% Charter Holdings notes began to accrue Charter Holdings and Charter Capital will not have the
on April 1, 2004. right to redeem the January 2000 10.00% Charter Holdings
The March 1999 Charter Holdings notes are senior debt notes prior to their maturity on April 1, 2009. Charter Holdings
obligations of Charter Holdings and Charter Capital. They rank and Charter Capital may redeem some or all of the January
equally with all other current and future unsubordinated 2000 10.25% Charter Holdings notes and the January 2000
obligations of Charter Holdings and Charter Capital. They are 11.75% Charter Holdings notes at any time, in each case, at a
structurally subordinated to the obligations of Charter Holdings’ premium. The optional redemption price declines to 100% of
subsidiaries, including the CIH notes, the CCH I notes, the the principal amount of the January 2000 Charter Holdings
CCH II notes, the CCO Holdings notes, the Renaissance notes, notes redeemed, plus accrued and unpaid interest, if any, for
the Charter Operating notes and the Charter Operating credit redemption on or after January 15, 2008.
facilities. In the event that a specified change of control event occurs,
Charter Holdings and Charter Capital will not have the Charter Holdings and Charter Capital must offer to repurchase
right to redeem the March 1999 8.250% Charter Holdings notes any then outstanding January 2000 Charter Holdings notes at
prior to their maturity on April 1, 2007. Charter Holdings and 101% of their total principal amount or accreted value, as
Charter Capital may redeem some or all of the March 1999 applicable, plus accrued and unpaid interest, if any.
8.625% Charter Holdings notes and the March 1999 9.920% The indentures governing the January 2000 Charter Hold-
Charter Holdings notes at any time, in each case, at a premium. ings notes contain substantially identical events of default,
The optional redemption price declines to 100% of the principal affirmative covenants and negative covenants as those contained
amount of March 1999 Charter Holdings notes redeemed, plus in the indentures governing the March 1999 Charter Holdings
accrued and unpaid interest, if any, for redemption on or after notes.
April 1, 2007.
In the event that a specified change of control event occurs, January 2001 Charter Holdings Notes. The January 2001 Charter
Charter Holdings and Charter Capital must offer to repurchase Holdings notes are general unsecured obligations of Charter
any then outstanding March 1999 Charter Holdings notes at Holdings and Charter Capital. The January 2001 10.750%
101% of their principal amount or accreted value, as applicable, Charter Holdings notes mature on October 1, 2009, and as of
plus accrued and unpaid interest, if any. December 31, 2005, there was $131 million in total principal
The indentures governing the March 1999 Charter Hold- amount of these notes outstanding. The January 2001 11.125%
ings notes contain restrictive covenants that limit certain Charter Holdings notes mature on January 15, 2011 and as of
transactions or activities by Charter Holdings and its restricted December 31, 2005, there was $217 million in total principal
subsidiaries. Substantially all of Charter Holdings’ direct and amount outstanding. The January 2001 13.500% Charter Hold-
indirect subsidiaries are currently restricted subsidiaries. ings notes mature on January 15, 2011 and as of December 31,
2005 the total principal amount and accreted value outstanding
F-21