After first announcing it would issue $750 million in senior notes yesterday morning, Charter Communications bumped the amount up to $1 billion later in the day.
A spokeswoman for Charter said the increase to $1 billion was in response to the demand for the notes.
Charter is issuing the senior notes to pay down some of its debt, as well as to use some of the proceeds for general corporate purposes.
The nation’s fourth-largest cable operator said the notes would have an annual interest rate of 7.25 percent, with interest paid semi-annually in April and October, and would be due in 2017.
While Charter was able to eliminate $8 billion in debt after emerging from voluntary Chapter 11 bankruptcy in December, it still has $12.9 million in debt on its books.
