09.30.2008 10:57 am
Charter to repurchase $100 million in debt
St. Louis Post-Dispatch
Charter Communications Inc., which had more than $20 billion of long-term debt at the end of the second quarter, said it will repurchase up to $100 million in debt securities to reduce interest expenses.
The Town and Country-based cable operator, controlled by billionaire Paul G. Allen, announced the tender offer for some of its outstanding senior notes Tuesday in a statement.
Charter Chief Financial Officer Eloise E. Schmitz told analysts and investors on an Aug. 5 conference call that the company has adequate liquidity until 2010, when it faces $1.9 billion of debt maturities.
