04:03 PM EDT, 05/09/2024 (MT Newswires) -- Charter Communications ( CHTR ) is selling $3 billion bonds in two parts with a concurrent tender offer to buy back up to $1.7 billion of debt that will mature next year, Bloomberg reported Thursday, citing an unnamed person with knowledge of the matter.

A 10-year security makes up the majority of the bonds offering with an interest rate about 2.13 percentage points higher than comparable US Treasury security with same maturity, the person reportedly said.

Proceeds from the bonds will be used for the tender offer and general corporate purposes, including potential stock repurchases, according to the source.

The company said Thursday its Charter Communications Operating and Charter Communications Operating Capital units started an offer to buy outstanding 4.908% senior secured notes due 2025 for up to $1.7 billion in cash.

Charter Communications ( CHTR ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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