05:29 PM EST, 12/09/2024 (MT Newswires) -- Charter Communications ( CHTR ) late Monday said it negotiated an extension of the maturity date for "a significant portion" of the revolving credit and term loan facilities by its Charter Communications Operating subsidiary until March 2030 and December 2031, respectively.

The revised credit agreement provides the Charter subsidiary with up to $5.5 billion in available borrowing through a new Revolving C facility maturing in March 2030 and converts $960 million of its existing revolving debt into a new Revolving B facility coming due in March 2027.

Charter also converted a portion of its existing term A-5 loans into new term A-7 loans also maturing in March 2030 and converted a portion of its existing term B-2 loans into new term B-5 loans due December 2031. It used proceeds from the revised credit agreements, together with cash on hand, to repay the portions of its A-5 and B-2 term loans not converted into new debt.

The new revolving credit facility and term A-7 loan were priced at the Secured Overnight Financing Rate plus 1.25%. The new term B-5 loan was priced at SOFR plus 2.25%, Charter said.