Stock News Buzz: Charter Communications (NASDAQ:CHTR)

Charter Communications (NASDAQ:CHTR) stock observed trading -5.99% off 52-week high price. On the other end, the stock has been noted 48.62% away from low price over the last 52-weeks. The stock disclosed a move of 0.75% away from 50 day moving average and 11.05% away from 200 day moving average. Moving closer, we can see that shares have been trading -3.46% off 20-day moving average. It has market cap of $90890.91M.

On Oct. 1, 2019, Charter Communications (NASDAQ:CHTR) declared the completion of its previously announced tender offer (the Tender Offer) by its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. to purchase any and all of its outstanding $500 million 5.250% senior notes due 2021 (the 2021 Notes). The Tender Offer expired at 5:00 p.m. New York City time, on September 27, 2019 (the Expiration Time).

In total, $60,628,000 or 12.13% of the 2021 Notes were validly tendered prior to the Expiration Time. The conditions to the Tender Offer have been satisfied and Charter has accepted for purchase all 2021 Notes validly tendered and not validly withdrawn at or prior to the Expiration Time. Payment for the 2021 Notes validly tendered and accepted for payment is expected to be made with the proceeds of Charter’s previously announced offering of senior notes.

Charter has conditionally called for redemption all of the 2021 Notes that were not tendered pursuant to the Tender Offer and remain outstanding after the Expiration Time, on October 18, 2019, at the redemption price of $1,000.00 for every $1,000 principal amount of 2021 Notes, plus accrued and unpaid interest to, but not including, the date of redemption. Following the redemption, no principal amount of 2021 Notes will remain outstanding.

Charter issued a conditional notice of partial redemption to redeem $850 million of its $1.0 billion outstanding 5.750% Senior Notes due 2024 (the 2024 Notes and, together with the 2021 Notes, the Notes) on October 18, 2019, at a redemption price of $1,019.17 for every $1,000 principal amount of 2024 Notes, plus accrued and unpaid interest to, but not including, the date of redemption.  Following the redemption, $150 million principal amount of 2024 Notes will remain outstanding.

The Tender Offer was made pursuant to Charter’s Offer to Purchase dated September 18, 2019. BofA Merrill Lynch acted as Dealer Manager for the Tender Offer. This press release is neither an offer to purchase nor a solicitation to sell any of the Notes nor is it a solicitation for acceptance of the Tender Offer and does not constitute a notice of redemption for the Notes.

The USA based company Charter Communications moved with change of -1.58% to $405.6 with the total traded volume of 1062290 shares in recent session versus to an average volume of 1158.75K. The stock was observed in the 5 days activity at -2.86%. The one month performance of stock was -0.97%. CHTR’s shares are at 1.73% for the quarter and driving a 24.46% return over the course of the past year and is now at 42.33% since this point in 2018.  Right now the stock beta is 1.21. The average volatility for the week and month was at 2.17% and 1.73% respectively. There are 224.09M shares outstanding and 158.41M shares are floated in market.


Leave a Reply

Your email address will not be published. Required fields are marked *