Charter 2013 Annual Report Download - page 99

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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2013, 2012 AND 2011
(dollars in millions, except share or per share data or where indicated)
F- 17
is equal to the principal amount of the debt. The Company has availability under its credit facilities of approximately $1.1 billion
as of December 31, 2013, and as such, debt maturing in the next twelve months is classified as long-term.
CCO Holdings Notes
In January 2011, CCO Holdings, LLC ("CCO Holdings") and CCO Holdings Capital Corp. closed on transactions in which they
issued $1.4 billion aggregate principal amount of 7.000% senior notes due 2019. The net proceeds of the issuances were contributed
by CCO Holdings to Charter Communications Operating, LLC ("Charter Operating") as a capital contribution and were used to
repay indebtedness under the Charter Operating credit facilities. The Company recorded a loss on extinguishment of debt of
approximately $67 million for the year ended December 31, 2011 related to these transactions.
In May 2011, CCO Holdings and CCO Holdings Capital Corp. closed on transactions in which they issued $1.5 billion aggregate
principal amount of 6.500% senior notes due 2021. The net proceeds of the issuances were contributed by CCO Holdings to Charter
Operating as a capital contribution and inter-company loan and were used to repay indebtedness under the Charter Operating credit
facilities. The Company recorded a loss on extinguishment of debt of approximately $53 million for the year ended December 31,
2011 related to these transactions.
In December 2011, CCO Holdings and CCO Holdings Capital Corp. closed on transactions in which they issued $750 million
aggregate principal amount of 7.375% senior notes due 2020. The net proceeds of the issuances were used, along with borrowings
under the Charter Operating credit facilities, to finance the tender offers in which $407 million aggregate principal amount of
Charter Operating's outstanding 8.000% senior second-lien notes due 2012, $234 million aggregate principal amount of Charter
Operating's 10.875% senior second-lien notes due 2014 and $286 million aggregate principal amount of CCH II, LLC's ("CCH
II") 13.500% senior notes due 2016 were repurchased. These transactions resulted in a loss on extinguishment of debt for the year
ended December 31, 2011 of approximately $19 million.
In January 2012, CCO Holdings and CCO Holdings Capital Corp. closed on transactions in which they issued $750 million
principal amount of 6.625% senior notes due 2022. The notes were issued at a price of 99.5% of the aggregate principal amount.
The net proceeds of the notes were used, along with a draw on the $500 million delayed draw portion of the Charter Operating
Term Loan A facility, to repurchase $300 million aggregate principal amount of Charter Operating's outstanding 8.000% senior
second-lien notes due 2012, $294 million aggregate principal amount of Charter Operating's 10.875% senior second-lien notes
due 2014 and $334 million aggregate principal amount of CCH II's 13.500% senior notes due 2016, as well as to repay amounts
outstanding under the Company's revolving credit facility. The tender offers closed in January and February 2012 and the Company
recorded a loss on extinguishment of debt of approximately $15 million on this transaction for the year ended December 31, 2012.
In August 2012, CCO Holdings and CCO Holdings Capital Corp. closed on transactions in which they issued $1.25 billion aggregate
principal amount of 5.250% senior notes due 2022. The notes were issued at a price of 99.026% of the aggregate principal amount.
The proceeds from the notes were used for general corporate purposes, including repaying amounts outstanding under the Company's
revolving credit facility, and to fund the redemption of the CCH II 13.500% senior notes due 2016 during the fourth quarter of
2012.
In December 2012, CCO Holdings and CCO Holdings Capital Corp. closed on transactions in which they issued $1.0 billion
aggregate principal amount of 5.125% senior notes due 2023. The proceeds from the notes were used for general corporate
purposes, including repaying amounts outstanding under the Company's credit facilities. These transactions resulted in a loss on
extinguishment of debt for the year ended December 31, 2012 of approximately $33 million.
In March 2013, CCO Holdings and CCO Holdings Capital Corp. closed on transactions in which they issued $500 million aggregate
principal amount of 5.250% senior notes due 2021 and $500 million aggregate principal amount of 5.750% senior notes due 2023.
The proceeds were used for repaying amounts outstanding under the Charter Operating term loan C facility. The Company recorded
a loss on extinguishment of debt of approximately $42 million for the year ended December 31, 2013 related to these transactions.
In May 2013, CCO Holdings and CCO Holdings Capital Corp. closed on transactions in which they issued $1.0 billion aggregate
principal amount of 5.750% senior notes due 2024. Concurrently with the pricing of the 5.750% senior notes, a tender offer was
launched to purchase any and all of the CCO Holdings 7.875% senior notes due 2018. The Company used the proceeds from the
issuance to purchase the notes tendered in the tender offer. Any notes not tendered were subsequently called in June 2013. The