Charter 2005 Annual Report Download - page 140

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 2005 FORM 10-K
Notes to Consolidated Financial Statements (continued)
of these notes was $94 million. Cash interest on the January structurally subordinated to the obligations of Charter Holdings’
2001 13.500% Charter Holdings notes began to accrue on subsidiaries, including the CIH notes, the CCH I notes, the
January 15, 2006. CCH II notes, the CCO Holdings notes, the Renaissance notes,
The January 2001 Charter Holdings notes are senior debt the Charter Operating notes and the Charter Operating credit
obligations of Charter Holdings and Charter Capital. They rank facilities.
equally with all other current and future unsubordinated Charter Holdings and Charter Capital will not have the
obligations of Charter Holdings and Charter Capital. They are right to redeem the May 2001 9.625% Charter Holdings notes
structurally subordinated to the obligations of Charter Holdings’ prior to their maturity on November 15, 2009. On or after
subsidiaries, including the CIH notes, the CCH I notes, the May 15, 2006, Charter Holdings and Charter Capital may
CCH II notes, the CCO Holdings notes, the Renaissance notes, redeem some or all of the May 2001 10.000% Charter Holdings
the Charter Operating notes and the Charter Operating credit notes and the May 2001 11.750% Charter Holdings notes at any
facilities. time, in each case, at a premium. The optional redemption price
Charter Holdings and Charter Capital will not have the declines to 100% of the principal amount of the May 2001
right to redeem the January 2001 10.750% Charter Holdings Charter Holdings notes redeemed, plus accrued and unpaid
notes prior to their maturity date on October 1, 2009. Charter interest, if any, for redemption on or after May 15, 2009.
Holdings and Charter Capital may redeem some or all of the In the event that a specified change of control event occurs,
January 2001 11.125% Charter Holdings notes and the January Charter Holdings and Charter Capital must offer to repurchase
2001 13.500% Charter Holdings notes at any time, in each case, any then outstanding May 2001 Charter Holdings notes at 101%
at a premium. The optional redemption price declines to 100% of their total principal amount or accreted value, as applicable,
of the principal amount of the January 2001 Charter Holdings plus accrued and unpaid interest, if any.
notes redeemed, plus accrued and unpaid interest, if any, for The indentures governing the May 2001 Charter Holdings
redemption on or after January 15, 2009. notes contain substantially identical events of default, affirmative
In the event that a specified change of control event occurs, covenants and negative covenants as those contained in the
Charter Holdings and Charter Capital must offer to repurchase indentures governing the March 1999, January 2000 and January
any then outstanding January 2001 Charter Holdings notes at 2001 Charter Holdings notes.
101% of their total principal amount or accreted value, as
January 2002 Charter Holdings Notes. The January 2002 Charter
applicable, plus accrued and unpaid interest, if any.
Holdings notes are general unsecured obligations of Charter
The indentures governing the January 2001 Charter Hold-
Holdings and Charter Capital.
ings notes contain substantially identical events of default,
The January 2002 12.125% senior discount notes mature on
affirmative covenants and negative covenants as those contained
January 15, 2012, and as of December 31, 2005, the total
in the indentures governing the March 1999 and January 2000
principal amount outstanding was $113 million and the total
Charter Holdings notes.
accreted value of these notes was approximately $100 million.
May 2001 Charter Holdings Notes. The May 2001 Charter Holdings Cash interest on the January 2002 12.125% Charter Holdings
notes are general unsecured obligations of Charter Holdings and notes will not accrue prior to January 15, 2007.
Charter Capital. The May 2001 9.625% Charter Holdings notes The January 2002 Charter Holdings notes are senior debt
mature on November 15, 2009, and as of December 31, 2005, obligations of Charter Holdings and Charter Capital. They rank
combined with the January 2002 additional bond issue, there equally with the current and future unsecured and
was $107 million in total principal amount outstanding. The unsubordinated debt of Charter Holdings. They are structurally
May 2001 10.000% Charter Holdings notes mature on May 15, subordinated to the obligations of Charter Holdings’ subsidiaries,
2011 and as of December 31, 2005, combined with the January including the CIH notes, the CCH I notes, the CCH II notes,
2002 additional bond issue, there was $137 million in total the CCO Holdings notes, the Renaissance notes, the Charter
principal amount outstanding and the total accreted value of the Operating notes and the Charter Operating credit facilities.
10.000% notes was approximately $136 million. The May 2001 The Charter Holdings 12.125% senior discount notes are
11.750% Charter Holdings notes mature on May 15, 2011 and redeemable at the option of the issuers at amounts decreasing
as of December 31, 2005, the total principal amount outstanding from 106.063% to 100% of accreted value beginning January 15,
was $125 million and the total accreted value of the 2007.
11.750% notes was approximately $120 million. Cash interest on In the event that a specified change of control event occurs,
the May 2001 11.750% Charter Holdings notes will not accrue Charter Holdings and Charter Capital must offer to repurchase
prior to May 15, 2006. any then outstanding January 2002 Charter Holdings notes at
The May 2001 Charter Holdings notes are senior debt 101% of their total principal amount or accreted value, as
obligations of Charter Holdings and Charter Capital. They rank applicable, plus accrued and unpaid interest, if any.
equally with all other current and future unsubordinated The indentures governing the January 2002 Charter Hold-
obligations of Charter Holdings and Charter Capital. They are ings notes contain substantially identical events of default,
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