05:02 PM EDT, 07/02/2024 (MT Newswires) -- Liberty Broadband ( LBRDA ) said Tuesday it has closed an $860 million private offering of 3.125% exchangeable debentures due 2054.

The debentures are exchangeable for Charter Communications' class A shares, including debentures in an original principal amount of $60 million issued as an option given to initial buyers, which was partially exercised, Liberty said.

Initially, 2.5442 Charter class A shares are attributable to each $1,000 of debentures, which represents an initial exchange price of about $393.05 for each Charter class A share.

About 2.2 million Charter class A shares are initially attributable to the debentures, Liberty said.

In connection with offering, Liberty repaid $540 million under a margin loan agreement, and repurchased $300 million 3.125% exchangeable senior debentures due 2053.

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