08:16 AM EDT, 06/25/2024 (MT Newswires) -- Liberty Broadband ( LBRDA ) said Tuesday that it has priced a private offering of $800 million of 3.125% exchangeable senior debentures due 2054, upsized from $500 million, exchangeable for Charter Communications class A common stock.

The company granted initial purchasers an option to buy up to $120 million in additional debentures.

The initial exchange rate is 2.5442 shares of Charter class A common stock for $1,000 of debentures, representing an initial exchange price of about $393.05 for each share of Charter class A common stock.

The company said it plans to use the net proceeds to repay about $500 million of borrowings under the margin loan agreement of its special purpose entity, to repurchase about $300 million of its 3.125% exchangeable senior debentures due 2053 and for general corporate purposes.